Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Jumps 7.6% – Should You Buy?

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CDNL shares. Weiss Ratings cut shares of Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Stifel Nicolaus reduced their target price on Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Oppenheimer cut their target price 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 shares of Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Finally, Truist Financial decreased their target price on shares of Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cardinal Infrastructure Group currently has an average rating of “Moderate Buy” and an average target price of $46.75.

Cardinal Infrastructure Group Price Performance

The business’s 50-day moving average is $31.36 and its two-hundred day moving average is $50.51. The company has a market capitalization of $657.55 million and a P/E ratio of 25.23. 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 (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 firm had revenue of $226.93 million during the quarter. As a group, analysts predict that Cardinal Infrastructure Group Inc. will post 1.76 earnings per share for the current year.

Insider Activity

In other news, Director Leon Wood purchased 51,400 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $39.36 per share, for a total transaction of $2,023,104.00. Following the completion of the purchase, the director owned 51,400 shares in the company, valued at approximately $2,023,104. This represents a ? increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard Bennett Wimmer acquired 7,500 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were acquired at an average price of $39.13 per share, for a total transaction of $293,475.00. Following the completion of the purchase, the director owned 29,349 shares of the company’s stock, valued at approximately $1,148,426.37. This represents a 34.33% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 214,597 shares of company stock worth $8,285,516. Company insiders own 61.70% of the company’s stock.

Institutional Trading of Cardinal Infrastructure Group

Institutional investors have recently made changes to their positions in the business. Kings Path Partners LLC acquired a new stake in shares of Cardinal Infrastructure Group during the third quarter worth $319,000. Round Rock Advisors LLC grew its holdings in 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 acquiring an additional 3,541 shares during the period. Wellington Management Group LLP purchased a new stake in Cardinal Infrastructure Group in the 2nd quarter worth approximately $14,687,000. Ranger Investment Management L.P. purchased a new position in Cardinal Infrastructure Group in the second quarter valued at $11,768,000. Finally, Bank of America Corp DE lifted its position in shares of Cardinal Infrastructure Group by 139.4% during the 1st quarter. Bank of America Corp DE now owns 125,804 shares of the company’s stock valued at $4,989,000 after buying an additional 73,259 shares in the last quarter.

Cardinal Infrastructure Group Company Profile