Cardinal Infrastructure Group (NASDAQ:CDNL) Trading 9.9% Higher - What's Next?

Key Points

• Cardinal Infrastructure Group (CDNL) jumped 9.9% on Tuesday, trading as high as $48.50 and last at about $49.00 on volume of ~328,788 shares (roughly in line with average session volume).
• Analyst sentiment is mixed but tilted positive with a consensus rating of "Moderate Buy" and a consensus price target of $38.00 after several upgrades and target increases from firms including Zacks, DA Davidson, and Stifel.
• Director Ivy Zelman purchased 6,921 shares at $36.33 on March 26, raising her stake to 15,326 shares (an 82.34% increase), indicating insider buying interest.

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Get Free Report) shot up 9.9% during trading on Tuesday . The stock traded as high as $48.50 and last traded at $49.0050. 328,788 shares changed hands during trading, an increase of 0% from the average session volume of 328,368 shares. The stock had previously closed at $44.58.

Analyst Upgrades and Downgrades

CDNL has been the subject of several recent analyst reports. Zacks Research upgraded shares of Cardinal Infrastructure Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 6th. Weiss Ratings initiated coverage on shares of Cardinal Infrastructure Group in a report on Monday, March 9th. They issued a "sell (e)" rating for the company. DA Davidson boosted their price target on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. Finally, Stifel Nicolaus restated a "buy" rating and issued a $41.00 price target (up from $38.00) on shares of Cardinal Infrastructure Group in a report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.00.

Cardinal Infrastructure Group Trading Up 10.1%

The business's 50 day moving average price is $32.93.

Insider Transactions at Cardinal Infrastructure Group

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

Hedge Funds Weigh In On Cardinal Infrastructure Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC purchased a new stake in shares of Cardinal Infrastructure Group during the 4th quarter valued at $152,000. Zuckerman Investment Group LLC acquired a new position in Cardinal Infrastructure Group in the fourth quarter valued at $242,000. XTX Topco Ltd purchased a new stake in Cardinal Infrastructure Group during the fourth quarter valued at about $242,000. Oxford Asset Management LLP purchased a new stake in Cardinal Infrastructure Group during the fourth quarter valued at about $355,000. Finally, HRT Financial LP acquired a new stake in Cardinal Infrastructure Group during the fourth quarter worth about $586,000.

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.

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