Carl Russell Iv Fletcher Acquires 10,000 Shares of FTAI Infrastructure (NASDAQ:FIP) Stock

FTAI Infrastructure Inc. (NASDAQ:FIP) CFO Carl Russell Iv Fletcher purchased 10,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were purchased at an average cost of $4.58 per share, with a total value of $45,800.00. Following the completion of the acquisition, the chief financial officer owned 40,000 shares in the company, valued at approximately $183,200. This represents a 33.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link.

FTAI Infrastructure Price Performance

FIP opened at $4.46 on Friday. The company has a fifty day simple moving average of $5.08 and a 200 day simple moving average of $5.20. The firm has a market cap of $526.99 million, a price-to-earnings ratio of -0.99 and a beta of 1.96. FTAI Infrastructure Inc. has a twelve month low of $3.90 and a twelve month high of $7.93. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 110.28.

FTAI Infrastructure (NASDAQ:FIP) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.90). FTAI Infrastructure had a negative net margin of 68.58% and a negative return on equity of 147.01%. The firm had revenue of $188.36 million for the quarter, compared to analyst estimates of $182.41 million. The firm’s revenue for the quarter was up 95.8% on a year-over-year basis.

FTAI Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, May 18th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, May 18th. FTAI Infrastructure’s dividend payout ratio is -2.66%.

Analysts Set New Price Targets

FIP has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of FTAI Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. BTIG Research reduced their price objective on shares of FTAI Infrastructure from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $9.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in FTAI Infrastructure by 73.5% in the 4th quarter. Wellington Management Group LLP now owns 11,513,151 shares of the company’s stock valued at $53,076,000 after purchasing an additional 4,875,802 shares during the last quarter. Vanguard Group Inc. lifted its position in FTAI Infrastructure by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,281,484 shares of the company’s stock valued at $27,387,000 after purchasing an additional 294,002 shares during the last quarter. Alliancebernstein L.P. lifted its position in FTAI Infrastructure by 3,990.2% in the 3rd quarter. Alliancebernstein L.P. now owns 4,009,630 shares of the company’s stock valued at $17,482,000 after purchasing an additional 3,911,600 shares during the last quarter. Geode Capital Management LLC lifted its position in FTAI Infrastructure by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,686,678 shares of the company’s stock valued at $12,387,000 after purchasing an additional 18,421 shares during the last quarter. Finally, Royce & Associates LP increased its stake in FTAI Infrastructure by 24.4% during the 4th quarter. Royce & Associates LP now owns 2,682,778 shares of the company’s stock valued at $12,368,000 after buying an additional 527,000 shares during the period. 87.43% of the stock is currently owned by institutional investors.

About FTAI Infrastructure

FTAI Infrastructure Ltd (NASDAQ: FIP) is a closed-end investment company that acquires and manages infrastructure assets offering stable, long-term cash flows. The company targets core and core-plus infrastructure sectors with contracted or regulated revenue streams, aiming to deliver attractive risk-adjusted returns for its shareholders. FTAI Infrastructure’s portfolio is diversified across multiple sub-sectors, geographies and counterparties to manage risk and capture growth opportunities in global infrastructure markets.

The company focuses on three primary investment categories: communications infrastructure, transport and logistics infrastructure, and utility infrastructure.