Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Up 5.5% – What’s Next?

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

Analyst Ratings Changes

Several equities research analysts have commented on CDNL shares. Stifel Nicolaus reiterated a “buy” rating and issued a $41.00 price objective (up from $38.00) on shares of Cardinal Infrastructure Group in a research note on Monday. Weiss Ratings assumed coverage on Cardinal Infrastructure Group in a report on Monday, March 9th. They issued a “sell (e)” rating for the company. Zacks Research raised Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 6th. Finally, DA Davidson lifted their price target on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Cardinal Infrastructure Group Stock Performance

The firm has a fifty day moving average of $29.95.

Insider Transactions at Cardinal Infrastructure Group

In other news, Director Ivy Zelman bought 6,921 shares of the stock in a transaction on Thursday, March 26th. The shares were purchased at an average cost of $36.33 per share, for a total transaction of $251,439.93. Following the completion of the purchase, the director directly owned 15,326 shares in the company, valued at $556,793.58. This represents a 82.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd bought a new stake in Cardinal Infrastructure Group in the 4th quarter valued at about $242,000. Readystate Asset Management LP purchased a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth about $2,539,000. Osterweis Capital Management Inc. bought a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at approximately $1,843,000. Oxford Asset Management LLP purchased a new stake in shares of Cardinal Infrastructure Group during the 4th quarter valued at approximately $355,000. Finally, Ophir Asset Management Pty Ltd bought a new position in Cardinal Infrastructure Group in the 4th quarter worth approximately $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.