Cardinal Infrastructure Group (NASDAQ:CDNL) Shares Down 5.3% - Time to Sell?

Key Points

• CDNL shares fell 5.3% to approximately $29.84, with trading volume down 80% from the average. The stock is well below its 50-day and 200-day moving averages of $48.70 and $52.07, respectively.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $52.33. Oppenheimer and Stifel cut their targets, while Zacks downgraded the stock to “Hold” and Weiss Ratings maintained a “Sell” rating.
• The company reported quarterly EPS of $0.26, missing the $0.48 consensus estimate, though insiders have bought 214,597 shares worth approximately $8.3 million over the past 90 days.

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Get Free Report)'s share price traded down 5.3% on Tuesday . The stock traded as low as $29.76 and last traded at $29.8420. 104,805 shares changed hands during trading, a decline of 80% from the average daily volume of 529,369 shares. The stock had previously closed at $31.52.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Oppenheimer dropped their price objective on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, August 12th. Zacks Research downgraded Cardinal Infrastructure Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Cardinal Infrastructure Group in a research note on Thursday, August 27th. Finally, Stifel Nicolaus reduced their price objective on Cardinal Infrastructure Group from $63.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Cardinal Infrastructure Group currently has a consensus rating of "Hold" and an average target price of $52.33.

Cardinal Infrastructure Group Trading Down 3.8%

The stock has a market capitalization of $1.44 billion and a price-to-earnings ratio of 55.13. The company has a fifty day moving average of $48.70 and a two-hundred day moving average of $52.07. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.32.

Cardinal Infrastructure Group (NASDAQ:CDNL - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.22). The business had revenue of $226.93 million during the quarter. On average, research analysts expect that Cardinal Infrastructure Group Inc. will post 1.85 EPS for the current year.

Insider Buying and Selling at Cardinal Infrastructure Group

In other news, CEO Jeremy Spivey bought 83,350 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $38.41 per share, for a total transaction of $3,201,473.50. Following the acquisition, the chief executive officer owned 83,350 shares of the company's stock, valued at $3,201,473.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard Bennett Wimmer purchased 7,500 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was bought at an average price of $39.13 per share, with a total value of $293,475.00. Following the completion of the acquisition, the director owned 29,349 shares in the company, valued at $1,148,426.37. This represents a 34.33% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 214,597 shares of company stock valued at $8,285,516. 61.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cardinal Infrastructure Group

A number of hedge funds have recently bought and sold shares of CDNL. Wasatch Advisors LP grew its holdings in Cardinal Infrastructure Group by 1.3% during the 1st 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 in the last quarter. Emerald Advisers LLC grew its position in shares of Cardinal Infrastructure Group by 12.7% during the 1st quarter. Emerald Advisers LLC now owns 578,600 shares of the company's stock valued at $22,944,000 after buying an additional 65,245 shares during the last quarter. Conversant Capital LLC acquired a new stake in Cardinal Infrastructure Group during the first quarter worth about $18,702,000. Principal Financial Group Inc. lifted its holdings in Cardinal Infrastructure Group by 198.8% in the first quarter. Principal Financial Group Inc. now owns 428,263 shares of the company's stock worth $16,983,000 after acquiring an additional 284,918 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in Cardinal Infrastructure Group by 19.7% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 359,063 shares of the company's stock valued at $14,239,000 after acquiring an additional 59,068 shares during the period.

About Cardinal Infrastructure Group

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