Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Climb 7.6% – What’s Next?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price shot up 7.6% during trading on Wednesday. The stock traded as high as $28.99 and last traded at $29.4450. 466,992 shares traded hands during trading, a decline of 13% from the average daily volume of 534,590 shares. The stock had previously closed at $27.37.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings raised shares of Cardinal Infrastructure Group from a “sell (e+)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Stifel Nicolaus dropped their price objective 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. Oppenheimer reduced their price objective on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th. Truist Financial assumed coverage on Cardinal Infrastructure Group in a report on Friday, September 25th. They set a “buy” rating and a $40.00 target price for the company. Finally, Zacks Research cut Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.25.

Cardinal Infrastructure Group Trading Up 7.6%

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 market cap of $1.40 billion and a PE ratio of 53.53. The stock has a 50-day moving average of $43.56 and a 200 day moving average of $51.98.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate 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 1.85 earnings per share for the current year.

Insider Buying and Selling at Cardinal Infrastructure Group

In related news, Director Ivy Zelman purchased 12,647 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average price of $39.61 per share, with a total value of $500,947.67. Following the acquisition, the director owned 32,891 shares in the company, valued at $1,302,812.51. The trade was a 62.47% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Benjamin Wood acquired 25,700 shares of Cardinal Infrastructure Group stock in a transaction on Friday, August 14th. The shares were bought at an average price of $39.48 per share, with a total value of $1,014,636.00. Following the completion of the transaction, the chief operating officer directly owned 45,700 shares of the company’s stock, valued at $1,804,236. This trade represents a 128.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 214,597 shares of company stock worth $8,285,516. 61.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CDNL. Conversant Capital LLC acquired a new stake in Cardinal Infrastructure Group in the 1st quarter worth about $18,702,000. Principal Financial Group Inc. lifted its position in shares of Cardinal Infrastructure Group by 198.8% in the first quarter. Principal Financial Group Inc. now owns 428,263 shares of the company’s stock valued at $16,983,000 after acquiring an additional 284,918 shares in the last quarter. Engle Capital Management L.P. boosted its stake in shares of Cardinal Infrastructure Group by 142.7% in the first quarter. Engle Capital Management L.P. now owns 318,000 shares of the company’s stock worth $12,610,000 after acquiring an additional 187,000 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Cardinal Infrastructure Group during the second quarter worth approximately $14,687,000. Finally, Ranger Investment Management L.P. acquired a new position in Cardinal Infrastructure Group in the 2nd quarter valued at $11,768,000.

Cardinal Infrastructure Group Company Profile