Brant Point Investment Management LLC Invests $2.49 Million in Cardinal Infrastructure Group Inc. $CDNL

Brant Point Investment Management LLC acquired a new position in Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 102,989 shares of the company’s stock, valued at approximately $2,490,000.

A number of other hedge funds have also recently added to or reduced their stakes in CDNL. Taylor Frigon Capital Management LLC purchased a new stake in Cardinal Infrastructure Group during the fourth quarter worth $1,209,000. Kornitzer Capital Management Inc. KS purchased a new stake in Cardinal Infrastructure Group during the fourth quarter worth $850,000. TimesSquare Capital Management LLC purchased a new stake in Cardinal Infrastructure Group during the fourth quarter worth $14,612,000. Goldman Sachs Group Inc. purchased a new position in Cardinal Infrastructure Group during the fourth quarter valued at $3,893,000. Finally, CenterBook Partners LP purchased a new position in Cardinal Infrastructure Group during the fourth quarter valued at $1,994,000.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. 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. Zacks Research downgraded shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Stifel Nicolaus increased their price objective on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. DA Davidson increased their price objective on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Finally, Oppenheimer assumed coverage on shares of Cardinal Infrastructure Group in a report on Thursday, May 28th. They set an “outperform” rating and a $60.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $52.67.

Cardinal Infrastructure Group Stock Up 5.3%

Shares of NASDAQ CDNL opened at $68.73 on Friday. The firm has a 50-day simple moving average of $52.17. Cardinal Infrastructure Group Inc. has a 52 week low of $21.98 and a 52 week high of $69.29.

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

Insider Transactions at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, COO Benjamin Wood bought 20,000 shares of Cardinal Infrastructure Group stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of the transaction, the chief operating officer directly owned 20,000 shares of the company’s stock, valued at approximately $1,026,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ivy Zelman bought 6,921 shares of Cardinal Infrastructure Group stock in a transaction dated Thursday, March 26th. The stock was acquired at an average price of $36.33 per share, with a total value of $251,439.93. Following the completion of the transaction, the director directly owned 15,326 shares of the company’s stock, valued at approximately $556,793.58. The trade was a 82.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 61.70% of the stock is owned by corporate insiders.

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.