Jeremy Simmons Spivey Acquires 83,350 Shares of Cardinal Infrastructure Group (NASDAQ:CDNL) Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) CEO Jeremy Simmons Spivey bought 83,350 shares of Cardinal Infrastructure Group stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average price of $38.41 per share, with a total value of $3,201,473.50. Following the purchase, the chief executive officer owned 83,350 shares of the company’s stock, valued at $3,201,473.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cardinal Infrastructure Group Trading Up 15.1%

Shares of CDNL opened at $45.14 on Wednesday. The stock’s 50-day moving average price is $67.83 and its 200 day moving average price is $50.58. 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 Inc. has a 12-month low of $21.98 and a 12-month high of $96.40. The firm has a market capitalization of $1.94 billion and a price-to-earnings ratio of 82.07.

Cardinal Infrastructure Group (NASDAQ:CDNL) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.22). The firm had revenue of $226.93 million during the quarter. As a group, research analysts predict that Cardinal Infrastructure Group Inc. will post 1.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Zacks Research downgraded Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Oppenheimer lowered their price target on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th. Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Finally, Stifel Nicolaus lowered their target price on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $52.33.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDNL. California State Teachers Retirement System acquired a new position in shares of Cardinal Infrastructure Group during the first quarter worth approximately $28,000. Strs Ohio bought a new position in Cardinal Infrastructure Group in the 1st quarter worth approximately $87,000. Barclays PLC acquired a new position in Cardinal Infrastructure Group during the 4th quarter worth $152,000. GatePass Capital LLC acquired a new position in Cardinal Infrastructure Group during the 1st quarter worth $274,000. Finally, Wasatch Advisors LP boosted 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.

More Cardinal Infrastructure Group News

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

• Positive Sentiment: Company insiders purchased a combined 214,597 shares worth approximately $8.3 million between August 14 and 17. CEO Jeremy Simmons Spivey bought 83,350 shares, COO Benjamin Wood purchased 25,700, and directors Anthony Leon Jr. Wood, Richard Melvin Jr. Lee, Ivy Zelman and Richard Bennett Wimmer also made significant purchases. These transactions substantially increased their personal holdings and may signal that management views the recent weakness as an attractive entry point. Jeremy Simmons Spivey SEC filing Benjamin Wood SEC filing Richard Bennett Wimmer SEC filing
• Neutral Sentiment: Analysts maintain a consensus “Hold” rating and an average price target of $52.33, which is above recent trading levels. However, Oppenheimer and Stifel recently lowered their targets to $70 and $52, respectively, while Zacks downgraded the stock to “Hold,” reflecting heightened uncertainty.
• Negative Sentiment: Cardinal Infrastructure’s latest quarterly results were weak relative to expectations: adjusted EPS was $0.26 versus the $0.48 consensus estimate, although revenue reached $226.93 million. The earnings miss and elevated valuation may limit upside and contribute to volatility.
• Negative Sentiment: Block & Leviton announced an investigation into potential securities-law violations involving CDNL. The announcement does not establish wrongdoing, but any resulting litigation, legal costs or reputational damage could weigh on investor sentiment. Block and Leviton investigation

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.