Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Up 5.5% – Should You Buy?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) traded up 5.5% during mid-day trading on Monday . The company traded as high as $38.00 and last traded at $38.07. 59,656 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 309,944 shares. The stock had previously closed at $36.10.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Zacks Research raised shares of Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a report on Friday, March 6th. Stifel Nicolaus reiterated 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. DA Davidson increased their price objective on 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 initiated coverage on Cardinal Infrastructure Group in a research report on Monday, March 9th. They set a “sell (e)” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Cardinal Infrastructure Group has an average rating of “Moderate Buy” and an average target price of $38.00.

Cardinal Infrastructure Group Price Performance

The business’s 50 day moving average price is $29.48.

Insider Buying and Selling at Cardinal Infrastructure Group

In related news, Director Ivy Zelman bought 6,921 shares of the business’s stock in a transaction that occurred on Thursday, March 26th. The shares were bought at an average price of $36.33 per share, with a total value of $251,439.93. Following the completion of the transaction, the director directly owned 15,326 shares in the company, valued at approximately $556,793.58. This represents a 82.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Cardinal Infrastructure Group

Several large investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in Cardinal Infrastructure Group during the 4th quarter worth $242,000. Readystate Asset Management LP purchased a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at about $2,539,000. Osterweis Capital Management Inc. purchased a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at about $1,843,000. Oxford Asset Management LLP bought a new position in shares of Cardinal Infrastructure Group during the fourth quarter valued at about $355,000. Finally, Ophir Asset Management Pty Ltd purchased a new position in Cardinal Infrastructure Group during the fourth quarter worth about $23,865,000.

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.