Stock Traders Purchase Large Volume of Call Options on Cardinal Infrastructure Group (NASDAQ:CDNL)

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) saw some unusual options trading activity on Thursday. Traders bought 3,140 call options on the company. This is an increase of 1,726% compared to the average daily volume of 172 call options.

Wall Street Analysts Forecast Growth

CDNL has been the topic of a number of recent analyst reports. William Blair lowered shares of Cardinal Infrastructure Group from an “outperform” rating to a “market perform” rating in a report on Thursday. Weiss Ratings lowered shares of Cardinal Infrastructure Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 23rd. Oppenheimer decreased 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. Zacks Research cut shares of Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. Finally, Truist Financial cut their target price on shares of Cardinal Infrastructure Group from $30.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.75.

Cardinal Infrastructure Group Stock Up 14.5%

Shares of Cardinal Infrastructure Group stock opened at $6.46 on Friday. The stock has a 50-day moving average price of $22.58 and a 200 day moving average price of $42.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.59 and a quick ratio of 3.59. Cardinal Infrastructure Group has a 1 year low of $5.22 and a 1 year high of $96.40.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings data on Thursday, November 12th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.70). The business had revenue of $201.93 million during the quarter. On average, research analysts expect that Cardinal Infrastructure Group will post 1.76 EPS for the current year.

Cardinal Infrastructure Group announced that its Board of Directors has initiated a stock repurchase program on Thursday, November 12th that authorizes the company to buy back $50 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 7% of its shares through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Richard Bennett Wimmer bought 7,500 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was bought at an average cost of $39.13 per share, for a total transaction of $293,475.00. Following the completion of the acquisition, the director directly owned 29,349 shares in the company, valued at $1,148,426.37. This represents a 34.33% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 61.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. California State Teachers Retirement System acquired a new stake in shares of Cardinal Infrastructure Group during the 1st quarter valued at about $28,000. GatePass Capital LLC bought a new stake in Cardinal Infrastructure Group in the first quarter valued at about $274,000. Boston Partners increased its stake in Cardinal Infrastructure Group by 173.8% in the third quarter. Boston Partners now owns 7,899 shares of the company’s stock valued at $242,000 after acquiring an additional 5,014 shares during the period. Bank of Nova Scotia acquired a new position in Cardinal Infrastructure Group in the first quarter worth about $366,000. Finally, Kings Path Partners LLC acquired a new position in Cardinal Infrastructure Group in the third quarter worth about $319,000.

Latest Cardinal Infrastructure Group News

Here’s some of the latest news about CDNL:

• Positive Sentiment: The board authorized a $50 million share buyback, allowing purchases of up to 7% of the company’s shares. Repurchases could support the stock, although the announcement came as Cardinal withdrew its guidance. Cardinal Infrastructure outlines $50M share repurchase
• Neutral Sentiment: Truist kept a “buy” rating but cut its price target from $30 to $10, reflecting a much lower valuation while still implying potential upside from the reported share price. Options implied volatility has also surged, signaling elevated uncertainty rather than a clear direction for the stock.
• Negative Sentiment: William Blair downgraded CDNL from “outperform” to “market perform.” Investors are also facing securities-law investigations. One notice cites the company’s earlier disclosure of ineffective controls over construction-contract estimates and subsequent project-cost revisions; the investigations are allegations, not findings of wrongdoing. Investigation notice

About Cardinal Infrastructure Group

Cardinal Infrastructure Group is a vertically integrated civil infrastructure and site development platform serving residential, commercial, industrial and municipal projects. CDNL delivers its suite of comprehensive infrastructure services that support the planning, preparation, installation, and development of residential, commercial, industrial, municipal, and state infrastructure projects through wholly owned, market leading subsidiaries. Cardinal’s operations leverage in-house, highly skilled teams and equipment fleets 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.