FTAI Infrastructure (NASDAQ:FIP) Shares Up 3.7%

FTAI Infrastructure Inc. (NASDAQ:FIP) rose 3.7% during trading on Friday . The company traded as high as $9.86 and last traded at $9.85. Approximately 144,101 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,180,168 shares. The stock had previously closed at $9.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BTIG Research raised their price target on shares of FTAI Infrastructure from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. JMP Securities restated a “market outperform” rating and set a $12.00 target price on shares of FTAI Infrastructure in a research report on Monday, August 5th.

FTAI Infrastructure Stock Performance

The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -4.90 and a beta of 1.31. The firm has a fifty day moving average of $9.33 and a 200 day moving average of $7.60. The company has a debt-to-equity ratio of 3.95, a current ratio of 0.69 and a quick ratio of 0.69.

FTAI Infrastructure (NASDAQ:FIP) last issued its quarterly earnings data on Friday, August 2nd. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.17). FTAI Infrastructure had a negative return on equity of 37.21% and a negative net margin of 49.44%. The firm had revenue of $84.89 million for the quarter.

FTAI Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 12th were issued a $0.03 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.12 dividend on an annualized basis and a yield of 1.21%. FTAI Infrastructure’s payout ratio is -6.19%.

Insider Transactions at FTAI Infrastructure

In other FTAI Infrastructure news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $9.04, for a total transaction of $30,731,489.04. Following the completion of the transaction, the insider now directly owns 8,418,561 shares in the company, valued at $76,103,791.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIP. Pingora Partners LLC purchased a new position in FTAI Infrastructure in the 4th quarter worth approximately $6,102,000. Luxor Capital Group LP lifted its position in FTAI Infrastructure by 49.0% during the fourth quarter. Luxor Capital Group LP now owns 4,269,813 shares of the company’s stock worth $16,610,000 after buying an additional 1,403,628 shares in the last quarter. Hood River Capital Management LLC boosted its stake in FTAI Infrastructure by 26.5% during the second quarter. Hood River Capital Management LLC now owns 2,957,163 shares of the company’s stock worth $25,520,000 after buying an additional 618,625 shares during the last quarter. Highland Peak Capital LLC purchased a new stake in FTAI Infrastructure in the 2nd quarter valued at $5,148,000. Finally, Dimensional Fund Advisors LP grew its holdings in FTAI Infrastructure by 44.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,470,225 shares of the company’s stock valued at $12,688,000 after buying an additional 449,481 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

About FTAI Infrastructure

FTAI Infrastructure Inc focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.