Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Jumps 9.7% – Should You Buy?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price shot up 9.7% during mid-day trading on Monday. The company traded as high as $14.88 and last traded at $15.1330. 119,330 shares changed hands during trading, a decline of 80% from the average daily volume of 600,287 shares. The stock had previously closed at $13.80.

Wall Street Analyst Weigh In

CDNL has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of 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. Truist Financial dropped their price objective on Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Zacks Research downgraded Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Weiss Ratings downgraded Cardinal Infrastructure Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Finally, Oppenheimer lowered their target price on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.75.

Cardinal Infrastructure Group Trading Down 0.3%

The business’s fifty day simple moving average is $29.51 and its 200-day simple moving average is $44.01. The firm has a market cap of $716.89 million and a P/E ratio of 27.46.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.22). The business had revenue of $226.93 million during the quarter. Analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.76 earnings per share for the current year.

Insider Transactions at Cardinal Infrastructure Group

In other news, Director Leon Wood bought 51,400 shares of Cardinal Infrastructure Group stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $39.36 per share, for a total transaction of $2,023,104.00. Following the completion of the acquisition, the director owned 51,400 shares of the company’s stock, valued at $2,023,104. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeremy Spivey purchased 83,350 shares of the stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $38.41 per share, with a total value of $3,201,473.50. Following the acquisition, the chief executive officer owned 83,350 shares of the company’s stock, valued at approximately $3,201,473.50. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 214,597 shares of company stock worth $8,285,516. Company insiders own 61.70% of the company’s stock.

Hedge Funds Weigh In On Cardinal Infrastructure Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CDNL. Kings Path Partners LLC purchased a new position in Cardinal Infrastructure Group during the 3rd quarter worth $319,000. Round Rock Advisors LLC lifted its stake 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 valued at $2,114,000 after buying an additional 3,541 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Cardinal Infrastructure Group during the 2nd quarter worth about $14,687,000. Ranger Investment Management L.P. acquired a new position in Cardinal Infrastructure Group in the second quarter valued at $11,768,000. Finally, Bank of America Corp DE raised its stake in Cardinal Infrastructure Group by 139.4% during the first quarter. Bank of America Corp DE now owns 125,804 shares of the company’s stock worth $4,989,000 after purchasing an additional 73,259 shares during the period.

Cardinal Infrastructure Group Company Profile

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.