Cardinal Infrastructure Group (NASDAQ:CDNL) Reaches New 52-Week Low - Should You Sell?

Key Points

• Cardinal Infrastructure Group fell 16.1% to a new 52-week low of $21.92, well below its 50-day and 200-day moving averages of $38.56 and $51.81, respectively.
• Despite the decline, analysts maintain a consensus “Moderate Buy” rating with a $49.25 price target; four analysts rate the stock Buy and two rate it Hold.
• The company missed quarterly earnings expectations, reporting $0.26 per share versus the $0.48 consensus estimate, while insiders purchased 214,597 shares worth $8.3 million over the past three months.

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Get Free Report) hit a new 52-week low on Friday. The company traded as low as $21.92 and last traded at $21.8710, with a volume of 914741 shares trading hands. The stock had previously closed at $25.06.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial assumed coverage on shares of Cardinal Infrastructure Group in a research note on Friday, September 25th. They issued a "buy" rating and a $40.00 price target for the company. Stifel Nicolaus cut their price objective on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, August 12th. Oppenheimer decreased their target price on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, August 12th. Zacks Research lowered shares of Cardinal Infrastructure Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Finally, Weiss Ratings raised Cardinal Infrastructure Group from a "sell (e+)" rating to a "hold (c)" rating in a research report on Tuesday, September 22nd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.25.

Cardinal Infrastructure Group Trading Down 16.1%

The stock's 50 day moving average is $38.56 and its 200-day moving average is $51.81. The company has a market cap of $997.91 million and a P/E ratio of 38.13. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.32.

Cardinal Infrastructure Group (NASDAQ:CDNL - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.22). The business had revenue of $226.93 million for the quarter. Research analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cardinal Infrastructure Group news, CEO Jeremy Spivey bought 83,350 shares of the business's stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $38.41 per share, for a total transaction of $3,201,473.50. Following the purchase, the chief executive officer owned 83,350 shares in the company, valued at approximately $3,201,473.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leon Wood bought 51,400 shares of Cardinal Infrastructure Group stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $39.36 per share, with a total value of $2,023,104.00. Following the acquisition, the director owned 51,400 shares in the company, valued at approximately $2,023,104. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 214,597 shares of company stock worth $8,285,516 in the last three months. Corporate insiders own 61.70% of the company's stock.

Hedge Funds Weigh In On Cardinal Infrastructure Group

A number of hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP grew its stake 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 acquiring an additional 9,064 shares during the period. Emerald Advisers LLC grew its position in Cardinal Infrastructure Group by 12.7% in the 1st quarter. Emerald Advisers LLC now owns 578,600 shares of the company's stock worth $22,944,000 after purchasing an additional 65,245 shares during the period. Conversant Capital LLC purchased a new stake in Cardinal Infrastructure Group during the 1st quarter valued at $18,702,000. Principal Financial Group Inc. raised its stake in Cardinal Infrastructure Group by 198.8% during the 1st quarter. Principal Financial Group Inc. now owns 428,263 shares of the company's stock valued at $16,983,000 after buying an additional 284,918 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its holdings 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 buying an additional 59,068 shares during the period.

Cardinal Infrastructure Group Company Profile

Cardinal Infrastructure Group, Inc NASDAQ: CDNL is an infrastructure services company serving customers in the telecommunications and utility industries. The company focuses on the development, construction, installation and maintenance of infrastructure used to support communications networks and essential utility systems.

Its service offerings are centered on communications and utility infrastructure projects, including work associated with fiber-optic and other network deployments.

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