Ivy Zelman Buys 6,921 Shares of Cardinal Infrastructure Group (NASDAQ:CDNL) Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Director Ivy Zelman acquired 6,921 shares of the firm’s stock in a transaction on Thursday, March 26th. The stock was bought 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 directly owned 15,326 shares in the company, valued at approximately $556,793.58. This represents a 82.34% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cardinal Infrastructure Group Price Performance

NASDAQ:CDNL opened at $36.30 on Monday. The stock has a 50-day moving average of $29.48. Cardinal Infrastructure Group Inc. has a 12 month low of $21.98 and a 12 month high of $37.48.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC bought a new stake in Cardinal Infrastructure Group during the fourth quarter worth about $31,082,000. Ophir Asset Management Pty Ltd bought a new position in shares of Cardinal Infrastructure Group during the fourth quarter valued at approximately $23,865,000. Wasatch Advisors LP bought a new position in shares of Cardinal Infrastructure Group during the fourth quarter valued at approximately $16,539,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Cardinal Infrastructure Group during the fourth quarter valued at approximately $14,992,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Cardinal Infrastructure Group during the fourth quarter valued at approximately $14,612,000.

Wall Street Analysts Forecast Growth

CDNL has been the subject of several research analyst reports. DA Davidson raised their price objective on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Stifel Nicolaus upped their target price on Cardinal Infrastructure Group from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Weiss Ratings assumed coverage on Cardinal Infrastructure Group in a research report on Monday, March 9th. They issued a “sell (e)” rating for the company. Finally, Zacks Research upgraded Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

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.