Granahan Investment Management LLC Takes Position in Cardinal Infrastructure Group Inc. $CDNL

Key Points

• Granahan Investment Management initiated a new position in Cardinal Infrastructure Group, buying 82,464 shares valued at about $3.27 million in the first quarter.
• The company reported solid quarterly results, with earnings of $1.98 per share and revenue of $418.92 million; analysts currently expect full-year EPS of 1.86.
• Sentiment on the stock is mixed: Stifel and Oppenheimer raised price targets and kept bullish ratings, while Zacks downgraded the shares, leaving the consensus rating at Hold with an average target of $59.33.

Granahan Investment Management LLC purchased a new position in Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 82,464 shares of the company's stock, valued at approximately $3,270,000. Granahan Investment Management LLC owned 0.19% of Cardinal Infrastructure Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Schonfeld Strategic Advisors LLC bought a new position in Cardinal Infrastructure Group in the 4th quarter valued at $31,082,000. Ophir Asset Management Pty Ltd bought a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth $23,865,000. Wasatch Advisors LP bought a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth about $16,539,000. Adage Capital Partners GP L.L.C. purchased a new position in Cardinal Infrastructure Group in the 4th quarter worth about $14,992,000. Finally, TimesSquare Capital Management LLC purchased a new position in Cardinal Infrastructure Group in the 4th quarter worth about $14,612,000.

Cardinal Infrastructure Group Price Performance

CDNL stock opened at $63.30 on Friday. Cardinal Infrastructure Group Inc. has a 1-year low of $21.98 and a 1-year high of $96.40. The company has a 50-day moving average price of $68.03. The company has a market capitalization of $2.71 billion and a P/E ratio of 275.22. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.73 and a quick ratio of 1.73.

Cardinal Infrastructure Group (NASDAQ:CDNL - Get Free Report) last issued its earnings results on Monday, March 23rd. The company reported $1.98 earnings per share (EPS) for the quarter. The business had revenue of $418.92 million for the quarter. On average, analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CDNL shares. Stifel Nicolaus boosted their price objective on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Weiss Ratings raised shares of Cardinal Infrastructure Group from a "sell (e)" rating to a "sell (e+)" rating in a research report on Monday, June 1st. Zacks Research downgraded shares of Cardinal Infrastructure Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Finally, Oppenheimer boosted their price target on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, June 15th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $59.33.

Insider Buying and Selling at Cardinal Infrastructure Group

In other Cardinal Infrastructure Group news, COO Benjamin Wood acquired 20,000 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average cost of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of the purchase, the chief operating officer owned 20,000 shares in the company, valued at approximately $1,026,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 61.70% of the company's stock.

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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