Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Gap Up – What’s Next?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price gapped up before the market opened on Monday. The stock had previously closed at $14.62, but opened at $15.56. Cardinal Infrastructure Group shares last traded at $15.2750, with a volume of 117,231 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CDNL. Zacks Research cut shares of Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Truist Financial lowered their price target on shares of Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Monday. Stifel Nicolaus lowered their price target on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Weiss Ratings cut shares of Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Finally, Oppenheimer lowered 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. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

Cardinal Infrastructure Group Stock Performance

The company’s fifty day moving average is $31.36 and its 200 day moving average is $50.51. The company has a market capitalization of $654.14 million and a P/E ratio of 25.09. 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 (NASDAQ:CDNL) last issued its earnings results on Tuesday, August 11th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.22). The business had revenue of $226.93 million for the quarter. As a group, equities analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, Director Leon Wood bought 51,400 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average price of $39.36 per share, with a total value of $2,023,104.00. Following the acquisition, the director directly owned 51,400 shares of the company’s stock, valued at $2,023,104. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ivy Zelman bought 12,647 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $39.61 per share, for a total transaction of $500,947.67. Following the acquisition, the director directly owned 32,891 shares in the company, valued at approximately $1,302,812.51. This trade represents a 62.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 214,597 shares of company stock worth $8,285,516. Company insiders own 61.70% of the company’s stock.

Institutional Investors Weigh In On Cardinal Infrastructure Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP raised its holdings in Cardinal Infrastructure Group by 1.3% during the 1st quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock valued at $27,483,000 after acquiring an additional 9,064 shares during the period. Emerald Advisers LLC raised its holdings in Cardinal Infrastructure Group by 12.7% during the 1st quarter. Emerald Advisers LLC now owns 578,600 shares of the company’s stock valued at $22,944,000 after acquiring an additional 65,245 shares during the period. Conversant Capital LLC bought a new stake in Cardinal Infrastructure Group during the 1st quarter valued at $18,702,000. Principal Financial Group Inc. raised its holdings in Cardinal Infrastructure Group by 198.8% during the 1st quarter. Principal Financial Group Inc. now owns 428,263 shares of the company’s stock valued at $16,983,000 after acquiring an additional 284,918 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in Cardinal Infrastructure Group by 19.7% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 359,063 shares of the company’s stock valued at $14,239,000 after acquiring an additional 59,068 shares during the period.

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.