Insider Buying: Cardinal Infrastructure Group (NASDAQ:CDNL) Director Purchases $1,251,880.00 in Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Director Richard Melvin Jr. Lee acquired 34,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $36.82 per share, with a total value of $1,251,880.00. Following the completion of the acquisition, the director directly owned 68,254 shares in the company, valued at approximately $2,513,112.28. The trade was a 99.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cardinal Infrastructure Group Stock Down 4.0%

Shares of NASDAQ CDNL opened at $43.33 on Thursday. The firm has a market capitalization of $1.86 billion and a PE ratio of 78.78. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.32. Cardinal Infrastructure Group Inc. has a 1 year low of $21.98 and a 1 year high of $96.40. The firm’s 50-day moving average is $67.48 and its 200-day moving average is $50.70.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.22). The company had revenue of $226.93 million for the quarter. Equities analysts expect that Cardinal Infrastructure Group Inc. will post 1.82 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CDNL. Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Stifel Nicolaus decreased their price objective on Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Zacks Research downgraded Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Oppenheimer cut their target price on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cardinal Infrastructure Group currently has an average rating of “Hold” and an average target price of $52.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDNL. California State Teachers Retirement System bought a new stake in shares of Cardinal Infrastructure Group in the first quarter worth about $28,000. Strs Ohio bought a new position in shares of Cardinal Infrastructure Group during the 1st quarter valued at about $87,000. Barclays PLC acquired a new position in shares of Cardinal Infrastructure Group in the 4th quarter valued at approximately $152,000. GatePass Capital LLC bought a new stake in Cardinal Infrastructure Group during the 1st quarter worth approximately $274,000. Finally, Wasatch Advisors LP increased its stake in Cardinal Infrastructure Group by 1.3% during the 1st quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock worth $27,483,000 after purchasing an additional 9,064 shares in the last quarter.

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.