Renaissance Technologies LLC Purchases Shares of 68,200 Cardinal Infrastructure Group Inc. $CDNL

Renaissance Technologies LLC acquired a new stake in Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) during the 1st quarter, Holdings Channel reports. The firm acquired 68,200 shares of the company’s stock, valued at approximately $2,704,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS purchased a new position in shares of Cardinal Infrastructure Group during the fourth quarter valued at approximately $850,000. Bastion Asset Management Inc. bought a new stake in shares of Cardinal Infrastructure Group during the 1st quarter worth approximately $4,016,000. Principal Financial Group Inc. boosted its holdings in Cardinal Infrastructure Group by 198.8% during the 1st 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 during the period. Emerald Mutual Fund Advisers Trust grew its position in Cardinal Infrastructure Group by 19.7% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 359,063 shares of the company’s stock valued at $14,239,000 after acquiring an additional 59,068 shares during the last quarter. Finally, Emerald Advisers LLC grew its holdings in shares of Cardinal Infrastructure Group by 12.7% in the first quarter. Emerald Advisers LLC now owns 578,600 shares of the company’s stock worth $22,944,000 after purchasing an additional 65,245 shares during the last quarter.

Insiders Place Their Bets

In related news, COO Benjamin Wood acquired 20,000 shares of Cardinal Infrastructure Group stock in a transaction that occurred on Wednesday, May 27th. The shares were purchased at an average price of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of the transaction, the chief operating officer owned 20,000 shares in the company, valued at $1,026,000. This represents a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 61.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CDNL. Zacks Research lowered Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Stifel Nicolaus upped their target price on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Oppenheimer lifted their price target on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Finally, Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $59.33.

Cardinal Infrastructure Group Stock Performance

Shares of NASDAQ CDNL opened at $64.00 on Monday. The company’s fifty day moving average price is $70.37 and its 200 day moving average price is $49.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.73 and a current ratio of 1.73. Cardinal Infrastructure Group Inc. has a 1 year low of $21.98 and a 1 year high of $96.40. The company has a market capitalization of $2.74 billion and a PE ratio of 278.26.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its earnings results on Monday, March 23rd. The company reported $1.98 EPS for the quarter. The business had revenue of $418.92 million for the quarter. On average, research analysts predict that Cardinal Infrastructure Group Inc. will post 1.86 earnings per share for the current year.

Cardinal Infrastructure Group 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.