Cardinal Infrastructure Group (NASDAQ:CDNL) Director Ivy Zelman Acquires 6,921 Shares

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Director Ivy Zelman acquired 6,921 shares of the firm’s stock in a transaction that occurred on Thursday, March 26th. The stock was bought at an average cost of $36.33 per share, with a total value of $251,439.93. Following the completion of the transaction, the director directly owned 15,326 shares in the company, valued at $556,793.58. The trade was a 82.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cardinal Infrastructure Group Stock Up 0.6%

CDNL stock opened at $36.30 on Friday. Cardinal Infrastructure Group Inc. has a 52 week low of $21.98 and a 52 week high of $37.48. The stock has a 50 day moving average of $29.48.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CDNL. Weiss Ratings started coverage on Cardinal Infrastructure Group in a report on Monday, March 9th. They issued a “sell (e)” rating for the company. DA Davidson lifted their target price on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Zacks Research raised Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 6th. Finally, Stifel Nicolaus boosted their target price on shares of Cardinal Infrastructure Group from $31.00 to $38.00 and gave the company a “buy” rating in a report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.50.

Institutional Trading of Cardinal Infrastructure Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDNL. Taylor Frigon Capital Management LLC acquired a new position in Cardinal Infrastructure Group during the fourth quarter worth $1,209,000. Kornitzer Capital Management Inc. KS purchased a new position in shares of Cardinal Infrastructure Group during the fourth quarter worth $850,000. TimesSquare Capital Management LLC acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at $14,612,000. Goldman Sachs Group Inc. acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at $3,893,000. Finally, CenterBook Partners LP purchased a new stake in shares of Cardinal Infrastructure Group in the 4th quarter valued at $1,994,000.

Cardinal Infrastructure Group Company 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.