FTAI Infrastructure (NASDAQ:FIP) Stock Price Up 11% – Here’s Why

Shares of FTAI Infrastructure Inc. (NASDAQ:FIP) rose 11% during mid-day trading on Monday . The company traded as high as $4.62 and last traded at $4.6180. Approximately 567,470 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 1,019,855 shares. The stock had previously closed at $4.16.

Analyst Ratings Changes

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

FTAI Infrastructure Trading Up 8.7%

The company has a market cap of $534.08 million, a P/E ratio of -1.00 and a beta of 1.79. The company has a debt-to-equity ratio of 110.28, a quick ratio of 1.10 and a current ratio of 1.10. The business has a fifty day simple moving average of $5.03 and a 200 day simple moving average of $5.19.

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

FTAI Infrastructure Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.12 annualized dividend and a yield of 2.7%. FTAI Infrastructure’s payout ratio is presently -2.66%.

Insiders Place Their Bets

In other FTAI Infrastructure news, CFO Carl Russell Iv Fletcher bought 10,000 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were purchased at an average price of $4.58 per share, with a total value of $45,800.00. Following the purchase, the chief financial officer directly owned 40,000 shares of the company’s stock, valued at approximately $183,200. The trade was a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.17% of the stock is owned by insiders.

Institutional Trading of FTAI Infrastructure

Institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in FTAI Infrastructure by 2.8% during the fourth quarter. AQR Capital Management LLC now owns 70,436 shares of the company’s stock valued at $325,000 after buying an additional 1,920 shares in the last quarter. Merit Financial Group LLC boosted its stake in FTAI Infrastructure by 21.3% during the fourth quarter. Merit Financial Group LLC now owns 15,858 shares of the company’s stock valued at $73,000 after buying an additional 2,787 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in FTAI Infrastructure by 9.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 33,171 shares of the company’s stock valued at $145,000 after buying an additional 2,979 shares in the last quarter. Rhumbline Advisers boosted its stake in FTAI Infrastructure by 1.9% during the third quarter. Rhumbline Advisers now owns 194,180 shares of the company’s stock valued at $847,000 after buying an additional 3,620 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in FTAI Infrastructure by 1.7% during the first quarter. Bank of America Corp DE now owns 281,015 shares of the company’s stock valued at $1,388,000 after buying an additional 4,810 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.