Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Get Free Report) Director Ivy Zelman purchased 12,647 shares of the stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $39.61 per share, for a total transaction of $500,947.67. Following the completion of the acquisition, the director owned 32,891 shares in the company, valued at approximately $1,302,812.51. This trade represents a 62.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Cardinal Infrastructure Group Trading Down 0.5%
Shares of NASDAQ:CDNL opened at $39.23 on Tuesday. Cardinal Infrastructure Group Inc. has a 12-month low of $21.98 and a 12-month high of $96.40. The business has a 50 day moving average of $68.17 and a 200-day moving average of $50.44. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.68 billion and a PE ratio of 170.57.
Cardinal Infrastructure Group (NASDAQ:CDNL - Get Free Report) last announced its 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 firm had revenue of $226.93 million during the quarter. As a group, equities research analysts forecast that Cardinal Infrastructure Group Inc. will post 1.82 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on CDNL shares. Zacks Research downgraded shares of Cardinal Infrastructure Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Oppenheimer cut 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 report on Wednesday, August 12th. Stifel Nicolaus decreased their target price 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. Finally, Weiss Ratings raised shares of Cardinal Infrastructure Group from a "sell (e)" rating to a "sell (e+)" rating in a report on Monday, June 1st. Three investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $52.33.
Read Our Latest Analysis on CDNL
Key Cardinal Infrastructure Group News
Here are the key news stories impacting Cardinal Infrastructure Group this week:
- Positive Sentiment: Company insiders purchased approximately 207,097 shares worth nearly $8.0 million on August 14. CEO Jeremy Simmons Spivey bought 83,350 shares, COO Benjamin Wood bought 25,700 shares, and directors Anthony Leon Jr. Wood, Richard Melvin Jr. Lee, and Ivy Zelman also made substantial purchases. The transactions significantly increased their individual holdings and may signal that management and directors view the recent share-price weakness as an attractive entry point. Benjamin Wood SEC filing Ivy Zelman SEC filing Jeremy Simmons Spivey SEC filing
- Neutral Sentiment: A report said CDNL shares increased 8.2%, although it did not identify a specific fundamental catalyst. The move occurred amid elevated volatility; the stock remains substantially below its 52-week high and its 50-day moving average. Cardinal Infrastructure stock price report
- Negative Sentiment: Law firm Block & Leviton announced an investigation into potential securities-law violations involving Cardinal Infrastructure. Although the notice does not establish wrongdoing, the investigation could lead to litigation, investor claims, legal expenses, and reputational damage, weighing on sentiment and potentially increasing volatility. Block and Leviton securities-fraud investigation
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System acquired a new position in Cardinal Infrastructure Group in the first quarter valued at about $28,000. Strs Ohio acquired a new stake in Cardinal Infrastructure Group during the first quarter worth about $87,000. Barclays PLC bought a new position in Cardinal Infrastructure Group in the 4th quarter valued at about $152,000. GatePass Capital LLC bought a new position in Cardinal Infrastructure Group in the 1st quarter valued at about $274,000. Finally, Bank of Nova Scotia acquired a new position in shares of Cardinal Infrastructure Group in the 1st quarter valued at approximately $366,000.
Cardinal Infrastructure Group Company Profile
(
Get Free Report)
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.
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