Insider Buying: FTAI Infrastructure (NASDAQ:FIP) CEO Acquires $1,532,000.00 in Stock

FTAI Infrastructure Inc. (NASDAQ:FIP) CEO Kenneth Nicholson purchased 400,000 shares of the stock in a transaction on Tuesday, November 10th. The shares were purchased at an average price of $3.83 per share, with a total value of $1,532,000.00. Following the acquisition, the chief executive officer directly owned 2,575,539 shares in the company, valued at $9,864,314.37. This represents a 18.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

FTAI Infrastructure Trading Up 14.1%

Shares of NASDAQ:FIP opened at $4.38 on Thursday. FTAI Infrastructure Inc. has a 52 week low of $2.23 and a 52 week high of $6.69. The company’s 50 day moving average is $2.91 and its two-hundred day moving average is $4.42. The company has a market cap of $517.64 million, a PE ratio of -0.86 and a beta of 1.82.

FTAI Infrastructure (NASDAQ:FIP) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). The firm 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 announced a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 23rd will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, November 23rd. FTAI Infrastructure’s dividend payout ratio is -2.36%.

Institutional Investors Weigh In On FTAI Infrastructure

Several large investors have recently modified their holdings of the company. Wellington Management Group LLP grew its position in shares of FTAI Infrastructure by 10.3% during the second quarter. Wellington Management Group LLP now owns 13,490,351 shares of the company’s stock worth $62,595,000 after acquiring an additional 1,259,468 shares during the last quarter. CenterBook Partners LP raised its position in FTAI Infrastructure by 77.6% in the 3rd quarter. CenterBook Partners LP now owns 3,485,831 shares of the company’s stock valued at $9,621,000 after purchasing an additional 1,522,854 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in FTAI Infrastructure during the 2nd quarter worth $8,591,000. Teachers Retirement System of The State of Kentucky boosted its stake in FTAI Infrastructure by 12.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 535,996 shares of the company’s stock worth $1,479,000 after purchasing an additional 58,979 shares during the period. Finally, Lazard Asset Management LLC grew its position in FTAI Infrastructure by 38.0% during the 1st quarter. Lazard Asset Management LLC now owns 467,149 shares of the company’s stock worth $2,308,000 after purchasing an additional 128,598 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FIP has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FTAI Infrastructure in a report on Wednesday, September 9th. JonesTrading reissued a “buy” rating and set a $8.75 target price on shares of FTAI Infrastructure in a research report on Monday, September 28th. Citizens Jmp started coverage on FTAI Infrastructure in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $10.00 target price for the company. Jefferies Financial Group set a $10.00 target price on FTAI Infrastructure in a research note on Tuesday, September 29th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of FTAI Infrastructure in a report on Tuesday, September 29th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, FTAI Infrastructure currently has a consensus rating of “Moderate Buy” and an average target price of $9.75.

FTAI Infrastructure Company Profile

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.