Insider Buying: Cardinal Infrastructure Group (NASDAQ:CDNL) CEO Buys $3,201,473.50 in Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) CEO Jeremy Simmons Spivey purchased 83,350 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $38.41 per share, for a total transaction of $3,201,473.50. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cardinal Infrastructure Group Stock Performance

CDNL opened at $43.33 on Thursday. The stock has a market cap of $1.86 billion and a P/E ratio of 78.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.59 and a quick ratio of 3.59. The stock’s 50 day simple moving average is $67.48 and its 200 day simple moving average is $50.70. Cardinal Infrastructure Group Inc. has a 1-year low of $21.98 and a 1-year high of $96.40.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its 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 for the quarter. As a group, equities analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Cardinal Infrastructure Group

A number of institutional investors and hedge funds have recently bought and sold shares of CDNL. Wellington Management Group LLP acquired a new stake in shares of Cardinal Infrastructure Group during the 2nd quarter valued at $14,687,000. Ranger Investment Management L.P. acquired a new position in shares of Cardinal Infrastructure Group in the 2nd quarter worth $11,768,000. Bank of America Corp DE raised its position in shares of 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. California State Teachers Retirement System acquired a new stake in shares of Cardinal Infrastructure Group during the first quarter worth $28,000. Finally, Engle Capital Management L.P. lifted its holdings in shares of Cardinal Infrastructure Group by 142.7% during the first quarter. Engle Capital Management L.P. now owns 318,000 shares of the company’s stock valued at $12,610,000 after purchasing an additional 187,000 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Zacks Research lowered Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. 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. Oppenheimer decreased their price objective on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Three 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.33.

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.