Cardinal Infrastructure Group (NASDAQ:CDNL) Reaches New 1-Year High - Should You Buy?

Key Points

• CDNL hit a 52‑week high — shares traded as high as $57.64 (last $54.25) on volume ~390,825, trading well above the consensus price target of $38 and its 50‑day moving average of $40.03.
• Analyst coverage is mixed — two Buy ratings, one Hold and one Sell result in an average rating of "Hold" despite recent target upgrades from some brokers.
• Insiders and institutions are increasing stakes — director Ivy Zelman bought 6,921 shares at $36.33 and insiders own 61.7% of shares, while several funds (including Emerald and Bastion) have recently added or boosted positions.

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $57.64 and last traded at $54.25, with a volume of 390825 shares traded. The stock had previously closed at $55.93.

Analyst Ratings Changes

A number of brokerages have issued reports on CDNL. Weiss Ratings began coverage on Cardinal Infrastructure Group in a report on Monday, March 9th. They issued a "sell (e)" rating for the company. Stifel Nicolaus reaffirmed a "buy" rating and issued a $41.00 target price (up from $38.00) on shares of Cardinal Infrastructure Group in a report on Monday, March 30th. DA Davidson upped their target price on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Finally, Zacks Research cut Cardinal Infrastructure Group from a "strong-buy" rating to a "hold" rating in a report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $38.00.

Cardinal Infrastructure Group Price Performance

The company's 50-day moving average price is $40.03.

Insider Activity at Cardinal Infrastructure Group

In related news, Director Ivy Zelman purchased 6,921 shares of Cardinal Infrastructure Group stock in a transaction on Thursday, March 26th. The shares were purchased at an average price of $36.33 per share, for a total transaction of $251,439.93. Following the transaction, the director owned 15,326 shares of the company's stock, valued at approximately $556,793.58. This represents a 82.34% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 61.70% of the company's stock.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Taylor Frigon Capital Management LLC bought a new stake in shares of Cardinal Infrastructure Group during the 4th quarter valued at about $1,209,000. Kornitzer Capital Management Inc. KS bought a new stake in shares of Cardinal Infrastructure Group during the 4th quarter valued at about $850,000. Bastion Asset Management Inc. bought a new stake in shares of Cardinal Infrastructure Group during the 1st quarter valued at about $4,016,000. Emerald Mutual Fund Advisers Trust boosted its position in shares of Cardinal Infrastructure Group by 19.7% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 359,063 shares of the company's stock valued at $14,239,000 after purchasing an additional 59,068 shares in the last quarter. Finally, Emerald Advisers LLC boosted its position in shares of Cardinal Infrastructure Group by 12.7% during the 1st quarter. Emerald Advisers LLC now owns 578,600 shares of the company's stock valued at $22,944,000 after purchasing an additional 65,245 shares in the last quarter.

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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