Cardinal Infrastructure Group (NASDAQ:CDNL) Sees Large Volume Increase – Time to Buy?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) shares saw unusually-strong trading volume on Thursday . Approximately 734,169 shares changed hands during trading, an increase of 82% from the previous session’s volume of 403,434 shares.The stock last traded at $84.0210 and had previously closed at $81.94.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CDNL. Stifel Nicolaus lifted their target price on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Oppenheimer upped their target price on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Weiss Ratings upgraded Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Finally, Zacks Research cut Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $59.33.

Cardinal Infrastructure Group Stock Performance

The company’s 50-day moving average is $57.55.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its quarterly earnings data on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The firm had revenue of $418.92 million for the quarter. Sell-side analysts forecast that Cardinal Infrastructure Group Inc. will post 1.87 earnings per share for the current year.

Insider Activity at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, COO Benjamin Wood bought 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average price of $51.30 per share, with a total value of $1,026,000.00. Following the completion of the transaction, the chief operating officer directly owned 20,000 shares in the company, valued at approximately $1,026,000. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 61.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System acquired a new stake in Cardinal Infrastructure Group during the 1st quarter worth about $28,000. Strs Ohio acquired a new position in shares of Cardinal Infrastructure Group in the 1st quarter valued at about $87,000. Barclays PLC purchased a new stake in shares of Cardinal Infrastructure Group in the fourth quarter worth approximately $152,000. GatePass Capital LLC purchased a new stake in shares of Cardinal Infrastructure Group in the first quarter worth approximately $274,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Cardinal Infrastructure Group during the first quarter worth approximately $366,000.

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.