Cardinal Infrastructure Group (NASDAQ:CDNL) Trading Down 5.8% – What’s Next?

Shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) dropped 5.8% on Thursday . The stock traded as low as $49.41 and last traded at $49.10. Approximately 309,700 shares were traded during trading, a decline of 16% from the average daily volume of 367,781 shares. The stock had previously closed at $52.12.

Analyst Ratings Changes

CDNL has been the topic of several research analyst reports. Stifel Nicolaus boosted their target price on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. DA Davidson boosted their target price on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Weiss Ratings initiated coverage on shares of Cardinal Infrastructure Group in a research report on Monday, March 9th. They set a “sell (e)” rating on the stock. Finally, Zacks Research downgraded shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $49.00.

Cardinal Infrastructure Group Stock Down 4.0%

The firm has a 50 day moving average price of $44.36.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its earnings results on Monday, March 23rd. The company reported $1.98 EPS for the quarter. The company had revenue of $418.92 million during the quarter. As a group, analysts forecast that Cardinal Infrastructure Group Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Transactions at Cardinal Infrastructure Group

In other news, Director Ivy Zelman purchased 6,921 shares of the stock in a transaction that occurred on Thursday, March 26th. The shares were purchased at an average cost 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 approximately $556,793.58. This represents a 82.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 61.70% of the company’s stock.

Institutional Trading of Cardinal Infrastructure Group

A number of hedge funds have recently added to or reduced their stakes in the company. Taylor Frigon Capital Management LLC purchased a new position in Cardinal Infrastructure Group during the fourth quarter worth approximately $1,209,000. Kornitzer Capital Management Inc. KS acquired a new stake in Cardinal Infrastructure Group in the fourth quarter valued at approximately $850,000. TimesSquare Capital Management LLC acquired a new stake in Cardinal Infrastructure Group in the fourth quarter valued at approximately $14,612,000. Goldman Sachs Group Inc. acquired a new stake in Cardinal Infrastructure Group in the fourth quarter valued at approximately $3,893,000. Finally, CenterBook Partners LP acquired a new stake in Cardinal Infrastructure Group in the fourth quarter valued at approximately $1,994,000.

About Cardinal Infrastructure Group

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.