Cardinal Infrastructure Group (NASDAQ:CDNL) Director Richard Melvin Jr. Lee Buys 34,000 Shares of Stock

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

Cardinal Infrastructure Group Stock Performance

CDNL stock traded down $0.19 on Monday, hitting $39.23. The company’s stock had a trading volume of 635,236 shares, compared to its average volume of 520,471. The firm has a 50 day moving average of $68.61 and a two-hundred day moving average of $50.36. Cardinal Infrastructure Group Inc. has a 1 year low of $21.98 and a 1 year high of $96.40. The stock has a market cap of $1.68 billion and a price-to-earnings ratio of 170.57. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.32.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its quarterly earnings results 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 for the quarter. Equities analysts predict that Cardinal Infrastructure Group Inc. will post 1.82 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CDNL. Weiss Ratings upgraded shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Oppenheimer reduced their price objective on 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. Zacks Research cut Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Stifel Nicolaus lowered their target price on 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. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $52.33.

Hedge Funds Weigh In On Cardinal Infrastructure Group

A number of large investors have recently bought and sold shares of CDNL. California State Teachers Retirement System purchased a new position in Cardinal Infrastructure Group during the 1st quarter worth $28,000. Strs Ohio acquired a new position in shares of Cardinal Infrastructure Group during the first quarter worth about $87,000. Barclays PLC acquired a new position in shares of Cardinal Infrastructure Group during the fourth quarter worth about $152,000. Zuckerman Investment Group LLC purchased a new position in Cardinal Infrastructure Group during the fourth quarter worth about $242,000. Finally, XTX Topco Ltd purchased a new position in Cardinal Infrastructure Group during the fourth quarter worth about $242,000.

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.