FTAI Infrastructure (NASDAQ:FIP) Trading 7.3% Higher – What’s Next?

FTAI Infrastructure Inc. (NASDAQ:FIP)’s share price shot up 7.3% during trading on Friday . The stock traded as high as $9.71 and last traded at $9.70. 351,189 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 1,188,290 shares. The stock had previously closed at $9.04.

Analyst Upgrades and Downgrades

Separately, JMP Securities reissued a “market outperform” rating and set a $12.00 price objective on shares of FTAI Infrastructure in a research report on Monday, August 5th.

FTAI Infrastructure Price Performance

The company has a debt-to-equity ratio of 5.42, a quick ratio of 2.10 and a current ratio of 2.10. The stock’s 50-day moving average is $9.21 and its two-hundred day moving average is $8.37. The stock has a market cap of $995.58 million, a PE ratio of -5.05 and a beta of 1.28.

FTAI Infrastructure (NASDAQ:FIP) last released its quarterly earnings results on Friday, August 2nd. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.17). The firm had revenue of $84.89 million for the quarter. FTAI Infrastructure had a negative return on equity of 44.09% and a negative net margin of 49.85%.

FTAI Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, August 12th were paid a dividend of $0.03 per share. 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 1.23%. FTAI Infrastructure’s dividend payout ratio (DPR) is presently -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 firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $9.04, for a total value of $30,731,489.04. Following the completion of the transaction, the insider now owns 8,418,561 shares of the company’s stock, valued at $76,103,791.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On FTAI Infrastructure

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new stake in FTAI Infrastructure in the fourth quarter valued at approximately $39,000. Algert Global LLC acquired a new stake in shares of FTAI Infrastructure in the 2nd quarter valued at $88,000. Choreo LLC purchased a new stake in shares of FTAI Infrastructure during the 2nd quarter worth $100,000. ProShare Advisors LLC grew its stake in shares of FTAI Infrastructure by 8.5% during the first quarter. ProShare Advisors LLC now owns 17,783 shares of the company’s stock worth $112,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in FTAI Infrastructure in the second quarter valued at $134,000. 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.