Insider Buying: Cardinal Infrastructure Group (NASDAQ:CDNL) Director Purchases $1,251,880.00 in Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Director Richard Melvin Jr. Lee bought 34,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $36.82 per share, with a total value of $1,251,880.00. Following the completion of the purchase, the director owned 68,254 shares in the company, valued at approximately $2,513,112.28. This represents a 99.26% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cardinal Infrastructure Group Price Performance

Shares of Cardinal Infrastructure Group stock traded down $0.19 during trading on Monday, reaching $39.23. The company’s stock had a trading volume of 635,236 shares, compared to its average volume of 520,471. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.32. Cardinal Infrastructure Group Inc. has a 12-month low of $21.98 and a 12-month high of $96.40. The company has a market capitalization of $1.68 billion and a P/E ratio of 170.57. The business has a 50 day moving average price of $68.61 and a 200-day moving average price of $50.36.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.22). The company had revenue of $226.93 million during the quarter. As a group, sell-side analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.82 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CDNL. Stifel Nicolaus lowered their price target on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Zacks Research cut shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings raised shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Finally, Oppenheimer lowered their target price on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cardinal Infrastructure Group has a consensus rating of “Hold” and an average price target of $52.33.

Institutional Trading of Cardinal Infrastructure Group

A number of institutional investors have recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS acquired a new stake in Cardinal Infrastructure Group in the fourth quarter valued at $850,000. TimesSquare Capital Management LLC acquired a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth $14,612,000. Goldman Sachs Group Inc. purchased a new stake in shares of Cardinal Infrastructure Group in the 4th quarter worth about $3,893,000. CenterBook Partners LP purchased a new stake in shares of Cardinal Infrastructure Group in the 4th quarter worth about $1,994,000. Finally, Nuveen LLC acquired a new stake in Cardinal Infrastructure Group in the 4th quarter valued at about $7,246,000.

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.