Fortitude Advisory Group L.L.C. Invests $113,000 in FTAI Infrastructure Inc. (NASDAQ:FIP)

Fortitude Advisory Group L.L.C. purchased a new stake in FTAI Infrastructure Inc. (NASDAQ:FIP) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 25,000 shares of the company’s stock, valued at approximately $113,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hood River Capital Management LLC increased its position in shares of FTAI Infrastructure by 32.7% during the fourth quarter. Hood River Capital Management LLC now owns 5,891,840 shares of the company’s stock worth $42,775,000 after purchasing an additional 1,452,567 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in FTAI Infrastructure during the 4th quarter worth $5,938,000. Capital International Investors grew its holdings in shares of FTAI Infrastructure by 17.0% during the fourth quarter. Capital International Investors now owns 5,345,350 shares of the company’s stock worth $38,807,000 after buying an additional 778,376 shares in the last quarter. Vanguard Group Inc. raised its position in shares of FTAI Infrastructure by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,537,542 shares of the company’s stock valued at $47,463,000 after buying an additional 730,895 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in shares of FTAI Infrastructure by 49.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,081,888 shares of the company’s stock valued at $15,115,000 after buying an additional 687,413 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

FTAI Infrastructure Stock Performance

Shares of FTAI Infrastructure stock opened at $6.73 on Tuesday. The business’s 50 day moving average price is $4.93 and its 200 day moving average price is $5.95. The company has a market cap of $772.34 million, a price-to-earnings ratio of -3.40 and a beta of 1.95. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.42 and a current ratio of 1.42. FTAI Infrastructure Inc. has a one year low of $3.10 and a one year high of $10.46.

FTAI Infrastructure (NASDAQ:FIP) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $1.23. The firm had revenue of $96.16 million during the quarter, compared to analysts’ expectations of $107.84 million. FTAI Infrastructure had a negative net margin of 44.32% and a negative return on equity of 46.25%.

FTAI Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.12 annualized dividend and a yield of 1.78%. FTAI Infrastructure’s dividend payout ratio (DPR) is -9.09%.

Analyst Ratings Changes

Separately, JMP Securities restated a “market outperform” rating and set a $12.00 price target on shares of FTAI Infrastructure in a research report on Tuesday, April 22nd.

FTAI Infrastructure 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.