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

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Director Ivy Zelman bought 6,921 shares of the stock in a transaction that occurred on Thursday, March 26th. The shares were purchased at an average price of $36.33 per share, with a total value of $251,439.93. Following the completion of the acquisition, the director directly owned 15,326 shares in the company, valued at $556,793.58. This trade represents a 82.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Cardinal Infrastructure Group Stock Performance

Shares of NASDAQ:CDNL opened at $36.30 on Friday. The stock’s 50-day simple moving average is $29.48. Cardinal Infrastructure Group Inc. has a 1 year low of $21.98 and a 1 year high of $37.48.

Hedge Funds Weigh In On Cardinal Infrastructure Group

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CDNL shares. Zacks Research upgraded shares of Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a report on Friday, March 6th. Weiss Ratings assumed coverage on shares of Cardinal Infrastructure Group in a research report on Monday, March 9th. They issued a “sell (e)” rating for the company. DA Davidson boosted their price target 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. Finally, Stifel Nicolaus upped their price objective on Cardinal Infrastructure Group from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.50.

About Cardinal Infrastructure Group

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.