Cardinal Infrastructure Group (NASDAQ:CDNL) Reaches New 12-Month Low – What’s Next?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s stock price reached a new 52-week low on Thursday. The company traded as low as $13.01 and last traded at $12.9950, with a volume of 744,178 shares traded. The stock had previously closed at $14.93.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CDNL. Oppenheimer decreased their price target on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th. Truist Financial cut their target price on Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. Weiss Ratings cut Cardinal Infrastructure Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. Stifel Nicolaus lowered their price target on Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Finally, Zacks Research lowered Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Cardinal Infrastructure Group currently has a consensus rating of “Hold” and a consensus price target of $46.75.

Cardinal Infrastructure Group Trading Down 15.6%

The firm’s 50 day simple moving average is $26.19 and its 200-day simple moving average is $43.24. The company has a market capitalization of $597.88 million and a PE ratio of 23.11. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.32.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its 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 firm had revenue of $226.93 million for the quarter. As a group, equities research analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.76 EPS for the current year.

Insider Transactions at Cardinal Infrastructure Group

In related news, Director Richard Bennett Wimmer purchased 7,500 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average cost of $39.13 per share, for a total transaction of $293,475.00. Following the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Benjamin Wood acquired 25,700 shares of the business’s stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $39.48 per share, for a total transaction of $1,014,636.00. Following the completion of the transaction, the chief operating officer directly owned 45,700 shares of the company’s stock, valued at $1,804,236. This trade represents a 128.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 214,597 shares of company stock worth $8,285,516 in the last quarter. 61.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cardinal Infrastructure Group

A number of large investors have recently modified their holdings of CDNL. Kornitzer Capital Management Inc. KS raised its holdings in shares of Cardinal Infrastructure Group by 17.1% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 28,886 shares of the company’s stock valued at $884,000 after buying an additional 4,222 shares during the period. Kings Path Partners LLC purchased a new position in Cardinal Infrastructure Group in the 3rd quarter worth approximately $319,000. Round Rock Advisors LLC boosted its holdings in Cardinal Infrastructure Group by 18.7% in the 2nd 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 period. Wellington Management Group LLP purchased a new position in Cardinal Infrastructure Group in the 2nd quarter worth approximately $14,687,000. Finally, Ranger Investment Management L.P. acquired a new stake in Cardinal Infrastructure Group in the second quarter valued at approximately $11,768,000.

About Cardinal Infrastructure Group

Cardinal Infrastructure Group is a vertically integrated civil infrastructure and site development platform serving residential, commercial, industrial and municipal projects.

CDNL delivers its suite of comprehensive infrastructure services that support the planning, preparation, installation, and development of residential, commercial, industrial, municipal, and state infrastructure projects through wholly owned, market leading subsidiaries. Cardinal’s operations leverage in-house, highly skilled teams and equipment fleets 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.