Cardinal Infrastructure Group (NASDAQ:CDNL) Director Ivy Zelman Buys 12,647 Shares of Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Director Ivy Zelman purchased 12,647 shares of the stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $39.61 per share, for a total transaction of $500,947.67. Following the completion of the purchase, the director directly owned 32,891 shares in the company, valued at approximately $1,302,812.51. The trade was a 62.47% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Cardinal Infrastructure Group Trading Down 0.5%

Shares of NASDAQ:CDNL opened at $39.23 on Tuesday. The company’s 50-day moving average price is $68.17 and its two-hundred day moving average price is $50.44. Cardinal Infrastructure Group Inc. has a one year low of $21.98 and a one year high of $96.40. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.59 and a quick ratio of 3.59. The stock has a market capitalization of $1.68 billion and a PE ratio of 170.57.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.22). The firm had revenue of $226.93 million during the quarter. On average, equities analysts forecast that Cardinal Infrastructure Group Inc. will post 1.82 EPS for the current fiscal year.

Institutional Trading of Cardinal Infrastructure Group

A number of hedge funds have recently made changes to their positions in the business. Kornitzer Capital Management Inc. KS bought a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth approximately $850,000. TimesSquare Capital Management LLC acquired a new stake in Cardinal Infrastructure Group during the 4th quarter valued at $14,612,000. Goldman Sachs Group Inc. acquired a new stake in Cardinal Infrastructure Group during the 4th quarter valued at $3,893,000. CenterBook Partners LP bought a new position in Cardinal Infrastructure Group during the fourth quarter worth $1,994,000. Finally, Nuveen LLC bought a new position in Cardinal Infrastructure Group during the fourth quarter worth $7,246,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CDNL shares. Weiss Ratings raised 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, July 13th. Stifel Nicolaus dropped their price target 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, Oppenheimer cut their price target 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. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $52.33.

Cardinal Infrastructure Group News Roundup

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

About Cardinal Infrastructure Group

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.