Insider Buying: Cardinal Infrastructure Group (NASDAQ:CDNL) COO Acquires $1,014,636.00 in Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) COO Benjamin Wood acquired 25,700 shares of Cardinal Infrastructure Group stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $39.48 per share, for a total transaction of $1,014,636.00. Following the purchase, the chief operating officer owned 45,700 shares of the company’s stock, valued at $1,804,236. The trade was a 128.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Benjamin Wood also recently made the following trade(s):

• On Wednesday, May 27th, Benjamin Wood acquired 20,000 shares of Cardinal Infrastructure Group stock. The stock was bought at an average price of $51.30 per share, with a total value of $1,026,000.00.

Cardinal Infrastructure Group Trading Down 0.5%

NASDAQ:CDNL traded down $0.19 during trading hours on Monday, hitting $39.23. 635,236 shares of the company were exchanged, compared to its average volume of 520,471. The stock has a market capitalization of $1.68 billion and a price-to-earnings ratio of 170.57. Cardinal Infrastructure Group Inc. has a one year low of $21.98 and a one year high of $96.40. The company has a fifty day simple moving average of $68.61 and a 200 day simple moving average of $50.36. 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 released its quarterly earnings results on Tuesday, August 11th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.22). The business had revenue of $226.93 million during the quarter. Sell-side analysts expect that Cardinal Infrastructure Group Inc. will post 1.82 EPS for the current fiscal year.

Analysts Set New Price Targets

CDNL has been the topic of several analyst reports. Oppenheimer reduced their target price on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th. Stifel Nicolaus dropped 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 report on Wednesday, August 12th. Zacks Research lowered shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $52.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System bought a new stake in shares of Cardinal Infrastructure Group during the 1st quarter valued at about $28,000. Strs Ohio acquired a new position in Cardinal Infrastructure Group in the first quarter valued at approximately $87,000. Barclays PLC acquired a new position in Cardinal Infrastructure Group in the fourth quarter valued at approximately $152,000. GatePass Capital LLC bought a new position in shares of Cardinal Infrastructure Group during the 1st quarter worth approximately $274,000. Finally, Wasatch Advisors LP boosted its holdings in shares of Cardinal Infrastructure Group by 1.3% during the 1st quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock worth $27,483,000 after buying an additional 9,064 shares in the last quarter.

About Cardinal Infrastructure Group

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.