Cardinal Infrastructure Group (NASDAQ:CDNL) Director Ivy Zelman Acquires 12,647 Shares of Stock

Key Points

• Director Ivy Zelman bought 12,647 Cardinal Infrastructure Group shares at an average price of $39.61, investing approximately $500,948. The purchase increased her ownership by 62.47% to 32,891 shares.
• Cardinal’s shares traded around $39.23, well below their 50-day and 200-day moving averages, while the company recently reported quarterly EPS of $0.26—below the $0.48 analyst consensus—on revenue of $226.93 million.
• Analyst sentiment is mixed: the consensus rating is “Hold” with a $52.33 target price, despite Stifel Nicolaus and Oppenheimer retaining positive ratings after lowering their price targets.

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Get Free Report) Director Ivy Zelman acquired 12,647 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average cost of $39.61 per share, with a total value of $500,947.67. Following the purchase, the director owned 32,891 shares in the company, valued at $1,302,812.51. The trade was a 62.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Cardinal Infrastructure Group Price Performance

Shares of NASDAQ CDNL traded down $0.19 during midday trading on Monday, reaching $39.23. 635,236 shares of the company were exchanged, compared to its average volume of 520,471. The stock's 50-day moving average price is $68.61 and its 200-day moving average price is $50.36. The stock has a market cap of $1.68 billion and a P/E ratio of 170.57. 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 one year low of $21.98 and a one year high of $96.40.

Cardinal Infrastructure Group (NASDAQ:CDNL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.26 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. On average, sell-side analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Several large investors have recently modified their holdings of the company. Ranger Investment Management L.P. acquired a new position in Cardinal Infrastructure Group in the second quarter valued at $11,768,000. Bank of America Corp DE grew its holdings in Cardinal Infrastructure Group by 139.4% during the 1st quarter. Bank of America Corp DE now owns 125,804 shares of the company's stock worth $4,989,000 after acquiring an additional 73,259 shares during the period. California State Teachers Retirement System bought a new position in shares of Cardinal Infrastructure Group in the 1st quarter worth about $28,000. Engle Capital Management L.P. lifted its stake in shares of Cardinal Infrastructure Group by 142.7% in the 1st quarter. Engle Capital Management L.P. now owns 318,000 shares of the company's stock valued at $12,610,000 after purchasing an additional 187,000 shares during the period. Finally, Conversant Capital LLC acquired a new position in shares of Cardinal Infrastructure Group in the 1st quarter valued at about $18,702,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stifel Nicolaus cut their price target on 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. Weiss Ratings upgraded shares of Cardinal Infrastructure Group from a "sell (e)" rating to a "sell (e+)" rating in a research report on Monday, June 1st. Oppenheimer reduced their target price 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 research report on Monday, July 13th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $52.33.

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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