Cardinal Infrastructure Group (NASDAQ:CDNL) Stock Jumps 12.1% – Here’s Why

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) rose 12.1% on Friday. The stock traded as high as $14.47 and last traded at $14.11. Approximately 325,284 shares were traded during trading, a decline of 47% from the average session volume of 614,513 shares. The stock had previously closed at $12.59.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Zacks Research downgraded Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Stifel Nicolaus reduced their price objective on Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Oppenheimer decreased their price objective on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. Weiss Ratings cut Cardinal Infrastructure Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 23rd. Finally, Truist Financial dropped their target price on Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, October 19th. Four investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.75.

Cardinal Infrastructure Group Stock Performance

The firm has a fifty day simple moving average of $25.62 and a 200 day simple moving average of $43.17. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.32. The stock has a market cap of $659.49 million and a price-to-earnings ratio of 25.47.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings data 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 firm had revenue of $226.93 million during the quarter. As a group, sell-side analysts expect that Cardinal Infrastructure Group Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling

In other Cardinal Infrastructure Group news, Director Leon Wood acquired 51,400 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $39.36 per share, for a total transaction of $2,023,104.00. Following the completion of the acquisition, the director directly owned 51,400 shares of the company’s stock, valued at approximately $2,023,104. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Benjamin Wood acquired 25,700 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $39.48 per share, for a total transaction of $1,014,636.00. Following the completion of the acquisition, the chief operating officer directly owned 45,700 shares of the company’s stock, valued at $1,804,236. This trade represents a 128.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 214,597 shares of company stock worth $8,285,516. 61.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Emerald Advisers LLC lifted its stake in Cardinal Infrastructure Group by 12.7% in the first quarter. Emerald Advisers LLC now owns 578,600 shares of the company’s stock valued at $22,944,000 after buying an additional 65,245 shares during the period. Conversant Capital LLC bought a new position in Cardinal Infrastructure Group during the first quarter worth about $18,702,000. Principal Financial Group Inc. grew its position in shares of Cardinal Infrastructure Group by 198.8% during the 1st quarter. Principal Financial Group Inc. now owns 428,263 shares of the company’s stock worth $16,983,000 after buying an additional 284,918 shares during the period. Wellington Management Group LLP acquired a new position in shares of Cardinal Infrastructure Group during the 2nd quarter worth about $14,687,000. Finally, Emerald Mutual Fund Advisers Trust increased its stake in shares of Cardinal Infrastructure Group by 19.7% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 359,063 shares of the company’s stock valued at $14,239,000 after acquiring an additional 59,068 shares during the last quarter.

Cardinal Infrastructure Group Company Profile

Cardinal Infrastructure Group is a vertically integrated civil infrastructure and site development platform serving residential, commercial, industrial and municipal projects.

CDNL delivers its suite of comprehensive infrastructure services that support the planning, preparation, installation, and development of residential, commercial, industrial, municipal, and state infrastructure projects through wholly owned, market leading subsidiaries. Cardinal’s operations leverage in-house, highly skilled teams and equipment fleets 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.