Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Price Down 7.9% – What’s Next?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s stock price fell 7.9% during mid-day trading on Wednesday. The company traded as low as $27.09 and last traded at $26.44. 18,860 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 533,747 shares. The stock had previously closed at $28.72.

Analysts Set New Price Targets

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

Cardinal Infrastructure Group Price Performance

The business’s fifty day moving average is $31.36 and its 200 day moving average is $50.51. The company has a market cap of $657.55 million and a P/E ratio of 25.23. 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 released its quarterly earnings results on Tuesday, August 11th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.22). The business had revenue of $226.93 million during the quarter. As a group, sell-side analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.76 EPS for the current year.

Insider Activity at Cardinal Infrastructure Group

In other news, Director Richard Bennett Wimmer bought 7,500 shares of the stock in a transaction dated Monday, August 17th. The stock was bought at an average price of $39.13 per share, for a total transaction of $293,475.00. Following the purchase, the director directly owned 29,349 shares in the company, valued at $1,148,426.37. This trade represents a 34.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ivy Zelman bought 12,647 shares of the stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $39.61 per share, with a total value of $500,947.67. Following the completion of the acquisition, the director directly owned 32,891 shares of the company’s stock, valued at approximately $1,302,812.51. The trade was a 62.47% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 214,597 shares of company stock worth $8,285,516 over the last ninety days. 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 modified their holdings of CDNL. Wasatch Advisors LP boosted its holdings in shares of 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 purchasing an additional 9,064 shares during the last quarter. Emerald Advisers LLC raised its stake in shares of Cardinal Infrastructure Group by 12.7% during the first 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 in the last quarter. Conversant Capital LLC bought a new position in Cardinal Infrastructure Group in the first quarter worth approximately $18,702,000. Principal Financial Group Inc. raised its position 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 purchasing an additional 284,918 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Cardinal Infrastructure Group during the 2nd quarter worth $14,687,000.

Cardinal Infrastructure Group Company Profile