FTAI Infrastructure Inc. (NASDAQ:FIP – Get Free Report)’s share price rose 13.9% during trading on Wednesday. The stock traded as high as $4.36 and last traded at $4.3750. Approximately 889,747 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 1,191,496 shares. The stock had previously closed at $3.84.
Wall Street Analyst Weigh In
FIP has been the topic of a number of recent research reports. BTIG Research dropped their target price on FTAI Infrastructure from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, November 6th. Citigroup reaffirmed a “market outperform” rating on shares of FTAI Infrastructure in a research report on Tuesday, September 29th. Wall Street Zen downgraded shares of FTAI Infrastructure from a “sell” rating to a “strong sell” rating in a report on Monday, July 20th. Jefferies Financial Group set a $10.00 price target on shares of FTAI Infrastructure in a research report on Tuesday, September 29th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of FTAI Infrastructure in a report on Wednesday, September 9th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.75.
View Our Latest Analysis on FTAI Infrastructure
FTAI Infrastructure Trading Down 2.2%
The firm has a fifty day moving average of $2.93 and a two-hundred day moving average of $4.41. The company has a market cap of $488.79 million, a PE ratio of -0.82 and a beta of 1.82.
FTAI Infrastructure (NASDAQ:FIP – Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The business had revenue of $218.97 million for the quarter, compared to analyst estimates of $195.03 million.
FTAI Infrastructure Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Monday, November 23rd will be given a $0.03 dividend. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $0.12 annualized dividend and a dividend yield of 2.9%. FTAI Infrastructure’s payout ratio is -2.36%.
Insider Activity at FTAI Infrastructure
In other FTAI Infrastructure news, CEO Kenneth J. Nicholson purchased 400,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were bought at an average cost of $3.83 per share, for a total transaction of $1,532,000.00. Following the purchase, the chief executive officer owned 2,575,539 shares of the company’s stock, valued at $9,864,314.37. This represents a 18.39% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of FIP. WINTON GROUP Ltd purchased a new stake in shares of FTAI Infrastructure during the second quarter worth $65,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of FTAI Infrastructure in the second quarter valued at $75,000. Connective Capital Management LLC bought a new stake in shares of FTAI Infrastructure during the 2nd quarter valued at $167,000. Royal Bank of Canada raised its stake in shares of FTAI Infrastructure by 47.2% during the 1st quarter. Royal Bank of Canada now owns 69,236 shares of the company’s stock valued at $341,000 after purchasing an additional 22,214 shares during the period. Finally, Quantinno Capital Management LP raised its stake in shares of FTAI Infrastructure by 28.3% during the 1st quarter. Quantinno Capital Management LP now owns 86,840 shares of the company’s stock valued at $429,000 after purchasing an additional 19,155 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.
About FTAI Infrastructure
FTAI Infrastructure (NASDAQ: FIP) is an infrastructure company focused on owning and operating assets in the transportation and energy sectors. Its businesses provide facilities and services that support the storage, handling and movement of commodities and other industrial products. The company’s portfolio includes Jefferson Terminal, a multimodal logistics and storage facility in Beaumont, Texas, and Repauno, a deepwater port and industrial site in Gibbstown, New Jersey. These facilities connect customers to transportation networks such as rail, road and waterways.
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