Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Gap Up Following Insider Buying Activity

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $51.89, but opened at $55.02. Cardinal Infrastructure Group shares last traded at $54.0430, with a volume of 46,824 shares traded.

Specifically, COO Benjamin Wood acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average price of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of the acquisition, the chief operating officer owned 20,000 shares in the company, valued at $1,026,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analyst Upgrades and Downgrades

CDNL has been the subject of several recent analyst reports. Weiss Ratings started coverage on Cardinal Infrastructure Group in a report on Monday, March 9th. They issued a “sell (e)” rating for the company. DA Davidson raised their target price on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Stifel Nicolaus lifted their price target on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Oppenheimer initiated coverage on shares of Cardinal Infrastructure Group in a report on Thursday. They issued an “outperform” rating and a $60.00 price target for the company. Finally, Zacks Research downgraded shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cardinal Infrastructure Group has a consensus rating of “Hold” and an average target price of $52.67.

Cardinal Infrastructure Group Price Performance

The company’s 50-day moving average is $47.11.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its earnings results on Monday, March 23rd. The company reported $1.98 EPS for the quarter. The company had revenue of $418.92 million for the quarter. On average, equities research analysts predict that Cardinal Infrastructure Group Inc. will post 1.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System acquired a new stake in shares of Cardinal Infrastructure Group during the 1st quarter worth approximately $28,000. Strs Ohio bought a new stake in Cardinal Infrastructure Group during the first quarter worth $87,000. Barclays PLC acquired a new stake in shares of Cardinal Infrastructure Group in the 4th quarter valued at $152,000. Zuckerman Investment Group LLC acquired a new stake in shares of Cardinal Infrastructure Group in the 4th quarter valued at $242,000. Finally, XTX Topco Ltd bought a new position in shares of Cardinal Infrastructure Group in the 4th quarter valued at $242,000.

Cardinal Infrastructure Group Company 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.