Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Price Down 10.7% – Should You Sell?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price was down 10.7% on Tuesday. The stock traded as low as $19.36 and last traded at $18.6770. Approximately 258,472 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 554,390 shares. The stock had previously closed at $20.92.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CDNL shares. Zacks Research cut Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Weiss Ratings lowered shares of Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Truist Financial cut their target price on shares of Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Monday. 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 research report on Wednesday, August 12th. Finally, Stifel Nicolaus decreased 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 note on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

Cardinal Infrastructure Group Price Performance

The company has a market cap of $655.23 million and a PE ratio of 25.06. 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’s 50-day moving average is $31.36 and its 200 day moving average is $50.51.

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

Insider Transactions at Cardinal Infrastructure Group

In related news, Director Richard Melvin Jr. Lee acquired 34,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $36.82 per share, for a total transaction of $1,251,880.00. Following the acquisition, the director owned 68,254 shares in the company, valued at $2,513,112.28. The trade was a 99.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leon Wood acquired 51,400 shares of the company’s stock in a transaction on Friday, August 14th. The stock was purchased at an average cost of $39.36 per share, for a total transaction of $2,023,104.00. Following the completion of the transaction, the director owned 51,400 shares in the company, valued at approximately $2,023,104. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 214,597 shares of company stock worth $8,285,516. 61.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cardinal Infrastructure Group

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

About Cardinal Infrastructure Group