Hood River Capital Management LLC Buys 1,452,567 Shares of FTAI Infrastructure Inc. (NASDAQ:FIP)

Hood River Capital Management LLC raised its position in FTAI Infrastructure Inc. (NASDAQ:FIP - Free Report) by 32.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,891,840 shares of the company's stock after purchasing an additional 1,452,567 shares during the period. Hood River Capital Management LLC owned approximately 5.18% of FTAI Infrastructure worth $42,775,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in shares of FTAI Infrastructure by 1.4% in the fourth quarter. Rhumbline Advisers now owns 158,513 shares of the company's stock worth $1,151,000 after acquiring an additional 2,141 shares in the last quarter. Arizona State Retirement System increased its position in shares of FTAI Infrastructure by 10.1% during the fourth quarter. Arizona State Retirement System now owns 32,231 shares of the company's stock worth $234,000 after acquiring an additional 2,948 shares in the last quarter. Invesco Ltd. boosted its stake in FTAI Infrastructure by 1.8% in the 4th quarter. Invesco Ltd. now owns 196,041 shares of the company's stock worth $1,423,000 after purchasing an additional 3,409 shares during the period. Wilmington Savings Fund Society FSB bought a new position in FTAI Infrastructure during the 3rd quarter worth about $34,000. Finally, Pictet Asset Management Holding SA raised its position in FTAI Infrastructure by 19.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 22,326 shares of the company's stock valued at $162,000 after buying an additional 3,610 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

FTAI Infrastructure Stock Performance

FIP opened at $3.79 on Wednesday. FTAI Infrastructure Inc. has a 52-week low of $3.10 and a 52-week high of $10.46. The firm has a market capitalization of $431.84 million, a PE ratio of -1.91 and a beta of 1.69. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.42 and a current ratio of 1.42. The business's 50-day simple moving average is $4.77 and its 200 day simple moving average is $6.93.

FTAI Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.12 annualized dividend and a yield of 3.17%. FTAI Infrastructure's dividend payout ratio (DPR) is currently -4.36%.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a "market outperform" rating and set a $12.00 price target on shares of FTAI Infrastructure in a research report on Tuesday.

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.

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