Cardinal Infrastructure Group (NASDAQ:CDNL) Director Richard Melvin Jr. Lee Purchases 34,000 Shares of Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Director Richard Melvin Jr. Lee purchased 34,000 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $36.82 per share, for a total transaction of $1,251,880.00. Following the transaction, the director owned 68,254 shares of the company’s stock, valued at approximately $2,513,112.28. The trade was a 99.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Cardinal Infrastructure Group Price Performance

NASDAQ:CDNL opened at $39.23 on Tuesday. Cardinal Infrastructure Group Inc. has a 12-month low of $21.98 and a 12-month high of $96.40. The firm has a market capitalization of $1.68 billion and a price-to-earnings ratio of 170.57. The stock’s 50 day moving average price is $68.17 and its two-hundred day moving average price is $50.44. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.32.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its earnings results on Tuesday, August 11th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.22). The firm had revenue of $226.93 million during the quarter. On average, analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.82 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System acquired a new stake in shares of Cardinal Infrastructure Group during the first quarter worth $28,000. Strs Ohio acquired a new position in shares of Cardinal Infrastructure Group in the first quarter valued at about $87,000. Barclays PLC acquired a new position in shares of Cardinal Infrastructure Group in the fourth quarter valued at about $152,000. GatePass Capital LLC bought a new position in Cardinal Infrastructure Group during the first quarter worth about $274,000. Finally, Wasatch Advisors LP increased its position in Cardinal Infrastructure Group by 1.3% during the first quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock worth $27,483,000 after acquiring an additional 9,064 shares during the period.

Key Stories Impacting Cardinal Infrastructure Group

Here are the key news stories impacting Cardinal Infrastructure Group this week:

• Positive Sentiment: Company insiders purchased approximately 207,097 shares worth nearly $8.0 million on August 14. CEO Jeremy Simmons Spivey bought 83,350 shares, COO Benjamin Wood bought 25,700 shares, and directors Anthony Leon Jr. Wood, Richard Melvin Jr. Lee, and Ivy Zelman also made substantial purchases. The transactions significantly increased their individual holdings and may signal that management and directors view the recent share-price weakness as an attractive entry point. Benjamin Wood SEC filing Ivy Zelman SEC filing Jeremy Simmons Spivey SEC filing
• Neutral Sentiment: A report said CDNL shares increased 8.2%, although it did not identify a specific fundamental catalyst. The move occurred amid elevated volatility; the stock remains substantially below its 52-week high and its 50-day moving average. Cardinal Infrastructure stock price report
• Negative Sentiment: Law firm Block & Leviton announced an investigation into potential securities-law violations involving Cardinal Infrastructure. Although the notice does not establish wrongdoing, the investigation could lead to litigation, investor claims, legal expenses, and reputational damage, weighing on sentiment and potentially increasing volatility. Block and Leviton securities-fraud investigation

Analysts Set New Price Targets

Several brokerages have recently weighed in on CDNL. 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. Stifel Nicolaus decreased their price target 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 lowered their price target on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th. Finally, Zacks Research cut shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.