Cardinal Infrastructure Group Inc. $CDNL Position Increased by Emerald Mutual Fund Advisers Trust

Key Points

• Emerald Mutual Fund Advisers Trust increased its stake in Cardinal Infrastructure Group by 19.7% in the first quarter, ending with 359,063 shares valued at about $14.24 million.
• Company insider and COO Benjamin Wood bought 20,000 shares at $51.30 each, and insiders now own 61.70% of the stock.
• Analysts remain constructive on CDNL, with recent price-target hikes from Oppenheimer and Stifel Nicolaus; the consensus rating is Moderate Buy with a $59.33 target, while the stock opened at $64.86 and is down 4.8% in the session.

Emerald Mutual Fund Advisers Trust grew its position in Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Free Report) by 19.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 359,063 shares of the company's stock after buying an additional 59,068 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.84% of Cardinal Infrastructure Group worth $14,239,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in Cardinal Infrastructure Group during the 1st quarter worth approximately $87,000. Barclays PLC purchased a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at $152,000. Zuckerman Investment Group LLC purchased a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at $242,000. XTX Topco Ltd acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter worth $242,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter worth $355,000.

Insiders Place Their Bets

In other news, COO Benjamin Wood purchased 20,000 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was bought at an average cost of $51.30 per share, with a total value of $1,026,000.00. Following the purchase, the chief operating officer directly owned 20,000 shares of the company's stock, valued at approximately $1,026,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 61.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CDNL shares. Oppenheimer upped their price target on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, June 15th. Stifel Nicolaus raised their price objective on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Weiss Ratings upgraded Cardinal Infrastructure Group from a "sell (e)" rating to a "sell (e+)" rating in a report on Monday, June 1st. Finally, Zacks Research raised shares of Cardinal Infrastructure Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.33.

Cardinal Infrastructure Group Trading Down 4.8%

NASDAQ CDNL opened at $64.86 on Tuesday. Cardinal Infrastructure Group Inc. has a 1-year low of $21.98 and a 1-year high of $96.40. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market capitalization of $2.78 billion and a P/E ratio of 282.00. The stock has a fifty day moving average of $65.31.

Cardinal Infrastructure Group (NASDAQ:CDNL - Get Free Report) last announced its quarterly earnings data on Monday, March 23rd. The company reported $1.98 earnings per share (EPS) for the quarter. The firm had revenue of $418.92 million for the quarter. As a group, analysts predict that Cardinal Infrastructure Group Inc. will post 1.86 EPS for the current year.

Cardinal Infrastructure Group 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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