FTAI Infrastructure (NASDAQ:FIP) Stock Price Up 3.7%

FTAI Infrastructure Inc. (NASDAQ:FIP) shot up 3.7% during trading on Friday . The stock traded as high as $9.86 and last traded at $9.85. 144,101 shares were traded during trading, a decline of 88% from the average session volume of 1,180,168 shares. The stock had previously closed at $9.50.

Analyst Upgrades and Downgrades

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

FTAI Infrastructure Stock Performance

The company has a debt-to-equity ratio of 3.95, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $1.01 billion, a PE ratio of -5.12 and a beta of 1.31. The stock has a 50-day simple moving average of $9.37 and a 200 day simple moving average of $7.67.

FTAI Infrastructure (NASDAQ:FIP) last released its quarterly earnings data on Friday, August 2nd. The company reported ($0.52) EPS for the quarter, missing the consensus estimate 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 business had revenue of $84.89 million during the quarter.

FTAI Infrastructure Announces Dividend

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

Insider Buying and Selling

In other FTAI Infrastructure news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $9.04, for a total transaction of $30,731,489.04. Following the sale, the insider now owns 8,418,561 shares in the company, valued at approximately $76,103,791.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On FTAI Infrastructure

Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in shares of FTAI Infrastructure by 23.2% during the fourth quarter. Victory Capital Management Inc. now owns 13,200 shares of the company’s stock valued at $51,000 after buying an additional 2,490 shares during the period. Merit Financial Group LLC purchased a new position in shares of FTAI Infrastructure during the 4th quarter worth $48,000. Van Hulzen Asset Management LLC purchased a new stake in shares of FTAI Infrastructure in the fourth quarter valued at $58,000. Jump Financial LLC grew its position in shares of FTAI Infrastructure by 430.8% in the fourth quarter. Jump Financial LLC now owns 76,153 shares of the company’s stock valued at $296,000 after purchasing an additional 61,805 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. acquired a new position in FTAI Infrastructure in the fourth quarter valued at $41,000. 87.43% of the stock is owned by institutional investors and hedge funds.

FTAI Infrastructure Company Profile

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.