FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report)'s share price traded up 7.3% during mid-day trading on Friday . The stock traded as high as $9.71 and last traded at $9.70. 351,189 shares were traded 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.
Analysts Set New Price Targets
Several analysts have commented on FIP shares. JMP Securities reiterated a "market outperform" rating and set a $12.00 target price on shares of FTAI Infrastructure in a research report on Monday, August 5th. BTIG Research increased their target price on FTAI Infrastructure from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Thursday, June 6th.
View Our Latest Stock Analysis on FIP
FTAI Infrastructure Stock Performance
The company has a market cap of $993.55 million, a price-to-earnings ratio of -4.91 and a beta of 1.28. The company has a debt-to-equity ratio of 5.42, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a 50-day moving average price of $9.21 and a 200 day moving average price of $8.33.
FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last announced its earnings results 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 firm 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, August 12th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, August 12th. FTAI Infrastructure's dividend payout ratio is presently -6.19%.
Insider Activity
In other FTAI Infrastructure news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $9.04, for a total value of $30,731,489.04. Following the transaction, the insider now directly owns 8,418,561 shares of the company's stock, valued at approximately $76,103,791.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.17% of the company's stock.
Institutional Investors Weigh In On FTAI Infrastructure
Several hedge funds and other institutional investors have recently modified their holdings of FIP. Quadrature Capital Ltd acquired a new stake in shares of FTAI Infrastructure in the 4th quarter worth about $39,000. Algert Global LLC purchased a new stake in shares of FTAI Infrastructure in the second quarter worth approximately $88,000. Choreo LLC bought a new position in shares of FTAI Infrastructure in the second quarter valued at approximately $100,000. ProShare Advisors LLC boosted its position 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 valued at $112,000 after buying an additional 1,400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in FTAI Infrastructure during the second quarter worth $134,000. Institutional investors own 87.43% of the company's stock.
About FTAI Infrastructure
(
Get Free Report)
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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