Empyrean Capital Partners LP Has $12.95 Million Stake in FTAI Infrastructure Inc. (NASDAQ:FIP)

Empyrean Capital Partners LP decreased its holdings in FTAI Infrastructure Inc. (NASDAQ:FIP) by 14.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,500,000 shares of the company’s stock after selling 250,000 shares during the quarter. Empyrean Capital Partners LP owned approximately 1.48% of FTAI Infrastructure worth $12,945,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pingora Partners LLC bought a new position in shares of FTAI Infrastructure in the fourth quarter valued at about $6,102,000. Luxor Capital Group LP raised its stake in shares of FTAI Infrastructure by 49.0% in the fourth quarter. Luxor Capital Group LP now owns 4,269,813 shares of the company’s stock worth $16,610,000 after acquiring an additional 1,403,628 shares during the last quarter. Hood River Capital Management LLC lifted its position in shares of 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 purchasing an additional 618,625 shares in the last quarter. Highland Peak Capital LLC bought a new stake in shares of FTAI Infrastructure during the second quarter valued at approximately $5,148,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of FTAI Infrastructure by 44.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,470,225 shares of the company’s stock valued at $12,688,000 after purchasing an additional 449,481 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FIP shares. BTIG Research upped their price objective on FTAI Infrastructure from $10.00 to $11.00 and gave the stock a “buy” rating in a 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.

Insider Activity at FTAI Infrastructure

In other news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 8,418,561 shares in the company, valued at approximately $76,103,791.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.17% of the stock is currently owned by corporate insiders.

FTAI Infrastructure Stock Up 1.3 %

Shares of NASDAQ FIP opened at $9.02 on Thursday. FTAI Infrastructure Inc. has a 1 year low of $2.84 and a 1 year high of $10.45. The firm’s 50-day moving average is $9.31 and its 200-day moving average is $8.20. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 5.42. The firm has a market capitalization of $917.28 million, a PE ratio of -4.65 and a beta of 1.29.

FTAI Infrastructure (NASDAQ:FIP) last announced its quarterly earnings data on Friday, August 2nd. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.17). The business had revenue of $84.89 million during the quarter. FTAI Infrastructure had a negative net margin of 49.85% and a negative return on equity of 44.09%.

FTAI Infrastructure Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, August 12th. This represents a $0.12 dividend on an annualized basis and a yield of 1.33%. FTAI Infrastructure’s dividend payout ratio is presently -6.19%.

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.