Cardinal Infrastructure Group (NASDAQ:CDNL) COO Purchases $1,026,000.00 in Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) COO Benjamin Wood acquired 20,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was purchased at an average price of $51.30 per share, with a total value of $1,026,000.00. Following the transaction, the chief operating officer owned 20,000 shares of the company’s stock, valued at approximately $1,026,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Cardinal Infrastructure Group Price Performance

Shares of Cardinal Infrastructure Group stock opened at $52.10 on Monday. The stock has a 50-day moving average price of $47.11. Cardinal Infrastructure Group Inc. has a fifty-two week low of $21.98 and a fifty-two week high of $63.18.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued 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 during the quarter. On average, sell-side analysts predict that Cardinal Infrastructure Group Inc. will post 1.84 earnings per share for the current year.

Institutional Trading of Cardinal Infrastructure Group

A number of institutional investors and hedge funds have recently modified their holdings of CDNL. Taylor Frigon Capital Management LLC purchased a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth about $1,209,000. Kornitzer Capital Management Inc. KS purchased a new stake in Cardinal Infrastructure Group during the 4th quarter valued at about $850,000. TimesSquare Capital Management LLC purchased a new stake in Cardinal Infrastructure Group during the 4th quarter valued at about $14,612,000. Goldman Sachs Group Inc. purchased a new stake in Cardinal Infrastructure Group during the 4th quarter valued at about $3,893,000. Finally, CenterBook Partners LP purchased a new stake in Cardinal Infrastructure Group during the 4th quarter valued at about $1,994,000.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CDNL. Zacks Research cut shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Stifel Nicolaus boosted their target price on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Oppenheimer began coverage on shares of Cardinal Infrastructure Group in a research note on Thursday. They set an “outperform” rating and a $60.00 target price for the company. DA Davidson boosted their target price on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Finally, Weiss Ratings began coverage on shares of Cardinal Infrastructure Group in a research note on Monday, March 9th. They set a “sell (e)” rating for the company. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $52.67.

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.