Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Falls 7.2% – Should You Sell?

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) fell 7.2% during trading on Wednesday. The company traded as low as $35.64 and last traded at $35.4650. 146,822 shares were traded during mid-day trading, a decline of 72% from the average session volume of 523,808 shares. The stock had previously closed at $38.22.

Analysts Set New Price Targets

CDNL has been the subject of a number of recent analyst reports. Weiss Ratings cut shares of Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Oppenheimer cut their target price 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 Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. Truist Financial decreased their target price on shares of Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Stifel Nicolaus decreased their price target on 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. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Infrastructure Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

Cardinal Infrastructure Group Stock Performance

The stock has a market capitalization of $657.55 million and a price-to-earnings ratio of 25.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.59 and a current ratio of 3.59. The stock has a fifty day simple moving average of $31.36 and a two-hundred day simple moving average of $50.51.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.22). The firm had revenue of $226.93 million during the quarter. Analysts forecast that Cardinal Infrastructure Group Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, CEO Jeremy Spivey acquired 83,350 shares of the business’s stock in a transaction on Friday, August 14th. The shares were acquired at an average price of $38.41 per share, for a total transaction of $3,201,473.50. Following the completion of the acquisition, the chief executive officer owned 83,350 shares in the company, valued at $3,201,473.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Bennett Wimmer acquired 7,500 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were purchased at an average cost of $39.13 per share, for a total transaction of $293,475.00. Following the completion of the transaction, the director directly owned 29,349 shares in the company, valued at $1,148,426.37. The trade was a 34.33% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 214,597 shares of company stock worth $8,285,516 over the last three months. Corporate insiders own 61.70% of the company’s stock.

Institutional Trading of Cardinal Infrastructure Group

Institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System bought a new position in Cardinal Infrastructure Group in the first quarter valued at about $28,000. Strs Ohio bought a new stake in Cardinal Infrastructure Group during the 1st quarter valued at $87,000. Round Rock Advisors LLC grew its position in shares of Cardinal Infrastructure Group by 18.7% during the 2nd quarter. Round Rock Advisors LLC now owns 22,438 shares of the company’s stock worth $2,114,000 after buying an additional 3,541 shares in the last quarter. GatePass Capital LLC purchased a new stake in shares of Cardinal Infrastructure Group in the 1st quarter worth approximately $274,000. Finally, Wasatch Advisors LP lifted its holdings in Cardinal Infrastructure Group by 1.3% during the first quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock worth $27,483,000 after buying an additional 9,064 shares during the period.

Cardinal Infrastructure Group Company Profile