Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Down 8.1% – What’s Next?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s stock price traded down 8.1% on Tuesday . The company traded as low as $48.10 and last traded at $47.9250. 193,517 shares traded hands during trading, a decline of 43% from the average session volume of 342,011 shares. The stock had previously closed at $52.14.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Zacks Research raised shares of Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a report on Friday, March 6th. DA Davidson increased their target price on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Weiss Ratings assumed coverage on shares of Cardinal Infrastructure Group in a report on Monday, March 9th. They set a “sell (e)” rating on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and set a $41.00 target price (up from $38.00) on shares of Cardinal Infrastructure Group in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Cardinal Infrastructure Group Trading Down 9.6%

The firm has a fifty day simple moving average of $35.48.

Insider Buying and Selling at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, Director Ivy Zelman bought 6,921 shares of the company’s stock in a transaction on Thursday, March 26th. The shares were bought at an average cost of $36.33 per share, with a total value of $251,439.93. Following the completion of the acquisition, the director owned 15,326 shares of the company’s stock, valued at approximately $556,793.58. This trade represents a 82.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Cardinal Infrastructure Group

Large investors have recently modified their holdings of the company. Barclays PLC acquired a new stake in shares of Cardinal Infrastructure Group in the 4th quarter worth about $152,000. XTX Topco Ltd acquired a new stake in shares of Cardinal Infrastructure Group in the 4th quarter worth about $242,000. Zuckerman Investment Group LLC acquired a new stake in shares of Cardinal Infrastructure Group in the 4th quarter worth about $242,000. Oxford Asset Management LLP acquired a new stake in shares of Cardinal Infrastructure Group in the 4th quarter worth about $355,000. Finally, HRT Financial LP acquired a new stake in shares of Cardinal Infrastructure Group in the 4th quarter worth about $586,000.

Cardinal Infrastructure Group Company Profile

We provide a comprehensive suite of infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets. Our operations leverage a large highly skilled workforce and a fleet of specialized equipment to deliver wet utility installations (water, sewer, and stormwater systems), as well as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services. We are becoming the platform of choice for a diverse array of infrastructure construction projects in our target geographies that require high-level technical expertise and sophistication.