Swiss National Bank Sells 20,400 Shares of FTAI Infrastructure Inc. $FIP

Swiss National Bank lessened its position in FTAI Infrastructure Inc. (NASDAQ:FIP) by 9.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 198,300 shares of the company’s stock after selling 20,400 shares during the period. Swiss National Bank owned approximately 0.17% of FTAI Infrastructure worth $898,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in FTAI Infrastructure in the 1st quarter valued at $68,000. Fortitude Advisory Group L.L.C. acquired a new stake in FTAI Infrastructure in the 1st quarter valued at $113,000. Y Intercept Hong Kong Ltd acquired a new stake in FTAI Infrastructure in the 1st quarter valued at $127,000. Freestone Grove Partners LP acquired a new stake in FTAI Infrastructure in the 4th quarter valued at $128,000. Finally, Stephens Inc. AR grew its position in FTAI Infrastructure by 10.6% in the 1st quarter. Stephens Inc. AR now owns 33,450 shares of the company’s stock valued at $152,000 after purchasing an additional 3,200 shares during the period. 87.43% of the stock is currently owned by institutional investors.

FTAI Infrastructure Stock Down 4.9%

Shares of NASDAQ:FIP opened at $5.07 on Wednesday. The stock has a market cap of $583.50 million, a price-to-earnings ratio of -3.31 and a beta of 1.89. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 13.30. FTAI Infrastructure Inc. has a 12-month low of $3.10 and a 12-month high of $9.99. The business’s 50 day moving average is $6.02 and its 200 day moving average is $5.42.

FTAI Infrastructure (NASDAQ:FIP) last announced its earnings results on Thursday, August 7th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.36). The company had revenue of $122.29 million for the quarter, compared to analysts’ expectations of $151.77 million. FTAI Infrastructure had a negative net margin of 20.85% and a negative return on equity of 10.14%.

FTAI Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $0.12 annualized dividend and a dividend yield of 2.4%. FTAI Infrastructure’s payout ratio is presently -7.84%.

Insider Activity

In other FTAI Infrastructure news, CFO Carl Russell Iv Fletcher acquired 10,000 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were acquired at an average price of $4.48 per share, with a total value of $44,800.00. Following the completion of the transaction, the chief financial officer owned 30,000 shares in the company, valued at approximately $134,400. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of FTAI Infrastructure from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, FTAI Infrastructure has a consensus rating of “Buy” and an average target price of $12.00.

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.