Cardinal Infrastructure Group (NASDAQ:CDNL) Trading 11.8% Higher - Time to Buy?

Key Points

• Shares jumped ~11.8% to $51.29 on Thursday (intraday high $51.06) from a prior close of $45.87, trading on lighter-than-average volume versus its 50-day simple moving average of $38.77.
• Analyst views are mixed — two Buys, one Hold and one Sell — leaving a consensus rating of "Hold" and a consensus price target of $38, well below the current share price.
• Insider and institutional interest: Director Ivy Zelman bought 6,921 shares at $36.33 (raising her stake 82% to 15,326 shares), while Wasatch Advisors owns a large position of 693,050 shares (~$27.5M).

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Get Free Report) shares traded up 11.8% on Thursday . The company traded as high as $51.06 and last traded at $51.2940. 177,770 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 343,010 shares. The stock had previously closed at $45.87.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. DA Davidson lifted their price target on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. Weiss Ratings assumed coverage on shares of Cardinal Infrastructure Group in a research note on Monday, March 9th. They issued a "sell (e)" rating on the stock. Stifel Nicolaus reaffirmed a "buy" rating and issued a $41.00 price target (up from $38.00) on shares of Cardinal Infrastructure Group in a research note on Monday, March 30th. Finally, Zacks Research lowered shares of Cardinal Infrastructure Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 20th. Two equities research 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 MarketBeat, Cardinal Infrastructure Group has an average rating of "Hold" and a consensus price target of $38.00.

Cardinal Infrastructure Group Trading Up 15.6%

The company has a 50-day simple moving average of $38.77.

Insider Activity at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, Director Ivy Zelman acquired 6,921 shares of the business's stock in a transaction dated Thursday, March 26th. The shares were acquired at an average price of $36.33 per share, with a total value of $251,439.93. Following the completion of the transaction, the director directly owned 15,326 shares in the company, valued at $556,793.58. This trade represents a 82.34% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Trading of Cardinal Infrastructure Group

A number of institutional investors have recently made changes to their positions in the business. Strs Ohio bought a new stake in shares of Cardinal Infrastructure Group in the first quarter worth $87,000. Barclays PLC bought a new stake in shares of Cardinal Infrastructure Group in the fourth quarter worth $152,000. Wasatch Advisors LP lifted its position in shares of Cardinal Infrastructure Group by 1.3% in the first quarter. Wasatch Advisors LP now owns 693,050 shares of the company's stock worth $27,483,000 after purchasing an additional 9,064 shares in the last quarter. Zuckerman Investment Group LLC bought a new stake in Cardinal Infrastructure Group during the fourth quarter worth $242,000. Finally, XTX Topco Ltd bought a new stake in Cardinal Infrastructure Group during the fourth quarter worth $242,000.

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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