Cardinal Infrastructure Group Inc. (NASDAQ:CDNL – Get Free Report)’s stock price dropped 9.3% on Tuesday . The company traded as low as $54.50 and last traded at $54.74. Approximately 299,458 shares traded hands during trading, a decline of 15% from the average daily volume of 351,753 shares. The stock had previously closed at $60.37.
Analyst Upgrades and Downgrades
CDNL has been the subject of several recent analyst reports. Weiss Ratings began coverage on shares of Cardinal Infrastructure Group in a research report on Monday, March 9th. They set a “sell (e)” rating for the company. DA Davidson lifted their price objective on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Zacks Research lowered Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $41.00 target price (up from $38.00) on shares of Cardinal Infrastructure Group in a research note on Monday, March 30th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $38.00.
View Our Latest Research Report on CDNL
Cardinal Infrastructure Group Price Performance
Cardinal Infrastructure Group (NASDAQ:CDNL – Get Free Report) last issued its earnings results on Monday, March 23rd. The company reported $1.98 earnings per share (EPS) for the quarter. The firm had revenue of $418.92 million during the quarter. As a group, equities analysts forecast that Cardinal Infrastructure Group Inc. will post 1.64 earnings per share for the current fiscal year.
Insider Activity
In other Cardinal Infrastructure Group news, Director Ivy Zelman bought 6,921 shares of the firm’s stock in a transaction dated Thursday, March 26th. The stock was bought at an average cost 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. The trade was a 82.34% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 61.70% of the stock is owned by corporate insiders.
Institutional Trading of Cardinal Infrastructure Group
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC bought a new position in shares of Cardinal Infrastructure Group in the fourth quarter valued at approximately $31,082,000. Ophir Asset Management Pty Ltd bought a new stake in Cardinal Infrastructure Group during the fourth quarter worth $23,865,000. Wasatch Advisors LP raised its position in Cardinal Infrastructure Group by 1.3% in the 1st quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock valued at $27,483,000 after buying an additional 9,064 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Cardinal Infrastructure Group during the 4th quarter valued at $14,992,000. Finally, TimesSquare Capital Management LLC bought a new position in Cardinal Infrastructure Group during the 4th quarter valued at $14,612,000.
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.
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