Kornitzer Capital Management Inc. KS Purchases Shares of 35,149 Cardinal Infrastructure Group Inc. $CDNL

Kornitzer Capital Management Inc. KS purchased a new stake in shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 35,149 shares of the company’s stock, valued at approximately $850,000.

Separately, Taylor Frigon Capital Management LLC purchased a new position in Cardinal Infrastructure Group during the fourth quarter valued at approximately $1,209,000.

Insider Activity at Cardinal Infrastructure Group

In related news, Director Ivy Zelman bought 6,921 shares of the stock in a transaction dated Thursday, March 26th. The shares were purchased at an average price of $36.33 per share, with a total value of $251,439.93. Following the completion of the acquisition, the director owned 15,326 shares of the company’s stock, valued at $556,793.58. This represents a 82.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 61.70% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNL has been the topic of several analyst reports. Zacks Research downgraded shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Stifel Nicolaus reaffirmed a “buy” rating and set a $41.00 price target (up from $38.00) on shares of Cardinal Infrastructure Group in a report on Monday, March 30th. DA Davidson lifted their price target on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Finally, Weiss Ratings began coverage on shares of Cardinal Infrastructure Group in a report on Monday, March 9th. They issued a “sell (e)” rating on the stock. Two 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $38.00.

Cardinal Infrastructure Group Stock Performance

CDNL stock opened at $54.69 on Monday. Cardinal Infrastructure Group Inc. has a one year low of $21.98 and a one year high of $55.47. The stock has a fifty day moving average of $39.18.

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.