Cardinal Infrastructure Group (NASDAQ:CDNL) Director Richard Bennett Wimmer Acquires 7,500 Shares of Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Director Richard Bennett Wimmer acquired 7,500 shares of the stock in a transaction on Monday, August 17th. The shares were bought at an average price of $39.13 per share, for a total transaction of $293,475.00. Following the purchase, the director owned 29,349 shares in the company, valued at approximately $1,148,426.37. This trade represents a 34.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Cardinal Infrastructure Group Price Performance

Shares of NASDAQ CDNL opened at $45.14 on Wednesday. The business has a fifty day moving average price of $67.83 and a two-hundred day moving average price of $50.58. The stock has a market capitalization of $1.94 billion and a PE ratio of 82.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.59 and a quick ratio of 3.59. Cardinal Infrastructure Group Inc. has a fifty-two week low of $21.98 and a fifty-two week high of $96.40.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CDNL. 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 note on Wednesday, August 12th. Zacks Research lowered Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. 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, Oppenheimer lowered their target price on 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 research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $52.33.

Key Stories Impacting Cardinal Infrastructure Group

Here are the key news stories impacting Cardinal Infrastructure Group this week:

• Positive Sentiment: Company insiders purchased a combined 214,597 shares worth approximately $8.3 million between August 14 and 17. CEO Jeremy Simmons Spivey bought 83,350 shares, COO Benjamin Wood purchased 25,700, and directors Anthony Leon Jr. Wood, Richard Melvin Jr. Lee, Ivy Zelman and Richard Bennett Wimmer also made significant purchases. These transactions substantially increased their personal holdings and may signal that management views the recent weakness as an attractive entry point. Jeremy Simmons Spivey SEC filing Benjamin Wood SEC filing Richard Bennett Wimmer SEC filing
• Neutral Sentiment: Analysts maintain a consensus “Hold” rating and an average price target of $52.33, which is above recent trading levels. However, Oppenheimer and Stifel recently lowered their targets to $70 and $52, respectively, while Zacks downgraded the stock to “Hold,” reflecting heightened uncertainty.
• Negative Sentiment: Cardinal Infrastructure’s latest quarterly results were weak relative to expectations: adjusted EPS was $0.26 versus the $0.48 consensus estimate, although revenue reached $226.93 million. The earnings miss and elevated valuation may limit upside and contribute to volatility.
• Negative Sentiment: Block & Leviton announced an investigation into potential securities-law violations involving CDNL. The announcement does not establish wrongdoing, but any resulting litigation, legal costs or reputational damage could weigh on investor sentiment. Block and Leviton investigation

Institutional Trading of Cardinal Infrastructure Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in Cardinal Infrastructure Group during the 1st quarter worth $2,704,000. Kornitzer Capital Management Inc. KS bought a new position in Cardinal Infrastructure Group in the fourth quarter valued at about $850,000. Principal Financial Group Inc. boosted its stake in shares of Cardinal Infrastructure Group by 198.8% during the first quarter. Principal Financial Group Inc. now owns 428,263 shares of the company’s stock valued at $16,983,000 after purchasing an additional 284,918 shares in the last quarter. Bastion Asset Management Inc. acquired a new stake in shares of Cardinal Infrastructure Group during the first quarter valued at about $4,016,000. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in shares of Cardinal Infrastructure Group by 19.7% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 359,063 shares of the company’s stock worth $14,239,000 after purchasing an additional 59,068 shares during the last quarter.

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.