Cardinal Infrastructure Group (NASDAQ:CDNL) Research Coverage Started at Truist Financial

Truist Financial started coverage on shares of Cardinal Infrastructure Group (NASDAQ:CDNL) in a research note published on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $40.00 price objective on the stock.

Several other research firms also recently commented on CDNL. Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e+)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. 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. Stifel Nicolaus dropped their price target on Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Finally, Zacks Research lowered Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Cardinal Infrastructure Group currently has an average rating of “Moderate Buy” and a consensus price target of $49.25.

Cardinal Infrastructure Group Stock Performance

Shares of CDNL opened at $28.02 on Friday. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $45.33 and a 200 day moving average price of $52.01. The company has a market capitalization of $1.33 billion and a price-to-earnings ratio of 50.95. Cardinal Infrastructure Group has a 52-week low of $21.98 and a 52-week high of $96.40.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.22). The company had revenue of $226.93 million for the quarter. Research analysts predict that Cardinal Infrastructure Group will post 1.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cardinal Infrastructure Group news, 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 price of $36.82 per share, with a total value of $1,251,880.00. Following the purchase, the director owned 68,254 shares in the company, valued at approximately $2,513,112.28. The trade was a 99.26% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeremy Spivey acquired 83,350 shares of the business’s stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $38.41 per share, for a total transaction of $3,201,473.50. Following the completion of the transaction, the chief executive officer directly owned 83,350 shares of the company’s stock, valued at $3,201,473.50. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 214,597 shares of company stock worth $8,285,516. 61.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Round Rock Advisors LLC grew its position in shares of Cardinal Infrastructure Group by 18.7% during the second quarter. Round Rock Advisors LLC now owns 22,438 shares of the company’s stock worth $2,114,000 after buying an additional 3,541 shares in the last quarter. Wellington Management Group LLP bought a new position in Cardinal Infrastructure Group in the second quarter worth about $14,687,000. Ranger Investment Management L.P. acquired a new position in Cardinal Infrastructure Group during the 2nd quarter valued at approximately $11,768,000. Bank of America Corp DE boosted its holdings in shares of Cardinal Infrastructure Group by 139.4% during the first quarter. Bank of America Corp DE now owns 125,804 shares of the company’s stock valued at $4,989,000 after acquiring an additional 73,259 shares during the period. Finally, California State Teachers Retirement System bought a new position in Cardinal Infrastructure Group in the 1st quarter worth about $28,000.

Cardinal Infrastructure Group Company Profile