FTAI Infrastructure (NASDAQ:FIP) CFO Purchases $18,950.00 in Stock

FTAI Infrastructure Inc. (NASDAQ:FIP) CFO Carl Russell Iv Fletcher purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The stock was bought at an average price of $3.79 per share, with a total value of $18,950.00. Following the transaction, the chief financial officer owned 45,000 shares of the company’s stock, valued at $170,550. This represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

FTAI Infrastructure Price Performance

Shares of NASDAQ FIP opened at $4.23 on Friday. FTAI Infrastructure Inc. has a 1-year low of $2.23 and a 1-year high of $6.69. The business’s 50 day moving average is $2.93 and its two-hundred day moving average is $4.41.

FTAI Infrastructure (NASDAQ:FIP) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The firm had revenue of $218.97 million during the quarter, compared to analyst estimates of $195.03 million.

FTAI Infrastructure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Monday, November 23rd will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, November 23rd. FTAI Infrastructure’s payout ratio is presently -2.36%.

Analysts Set New Price Targets

FIP has been the subject of several analyst reports. BTIG Research lowered their target price on shares of FTAI Infrastructure from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, November 6th. JonesTrading reissued a “buy” rating and issued a $8.75 price objective on shares of FTAI Infrastructure in a research report on Monday, September 28th. Jefferies Financial Group set a $10.00 price objective on shares of FTAI Infrastructure in a research note on Tuesday, September 29th. Wall Street Zen lowered FTAI Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Monday, July 20th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of FTAI Infrastructure in a research note on Tuesday, September 29th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.75.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in FTAI Infrastructure during the 2nd quarter valued at about $8,591,000. CenterBook Partners LP grew its stake in FTAI Infrastructure by 77.6% in the 3rd quarter. CenterBook Partners LP now owns 3,485,831 shares of the company’s stock worth $9,621,000 after acquiring an additional 1,522,854 shares in the last quarter. Wellington Management Group LLP grew its stake in FTAI Infrastructure by 10.3% in the 2nd quarter. Wellington Management Group LLP now owns 13,490,351 shares of the company’s stock worth $62,595,000 after acquiring an additional 1,259,468 shares in the last quarter. Fifth Third Bancorp bought a new position in FTAI Infrastructure in the 1st quarter worth about $1,839,000. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of FTAI Infrastructure by 43.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 433,930 shares of the company’s stock worth $2,144,000 after acquiring an additional 131,521 shares during the period. 87.43% of the stock is currently owned by institutional investors.

About FTAI Infrastructure

FTAI Infrastructure (NASDAQ: FIP) is an infrastructure company focused on owning and operating assets in the transportation and energy sectors. Its businesses provide facilities and services that support the storage, handling and movement of commodities and other industrial products. The company’s portfolio includes Jefferson Terminal, a multimodal logistics and storage facility in Beaumont, Texas, and Repauno, a deepwater port and industrial site in Gibbstown, New Jersey. These facilities connect customers to transportation networks such as rail, road and waterways.