Key Points
- FTAI Infrastructure CFO Carl Russell Iv Fletcher bought 10,000 shares on May 28 at an average price of $4.58, spending $45,800 and raising his holdings to 40,000 shares.
- The purchase came as FIP has been under pressure, with shares around $4.56, below both its 50-day and 200-day moving averages and far off its 52-week high of $7.93.
- The company recently reported a larger-than-expected quarterly loss of $1.32 per share, though revenue of $188.36 million beat estimates and rose 95.8% year over year; it also declared a quarterly dividend of $0.03 per share.
FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report) CFO Carl Russell Iv Fletcher purchased 10,000 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were bought at an average price of $4.58 per share, with a total value of $45,800.00. Following the purchase, the chief financial officer owned 40,000 shares in the company, valued at $183,200. This represents a 33.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
FTAI Infrastructure Stock Performance
FIP opened at $4.56 on Friday. The company has a market cap of $538.81 million, a PE ratio of -1.01 and a beta of 1.96. The stock has a 50-day moving average of $5.09 and a 200-day moving average of $5.20. FTAI Infrastructure Inc. has a 52-week low of $3.90 and a 52-week high of $7.93. The company has a debt-to-equity ratio of 110.28, a quick ratio of 1.10 and a current ratio of 1.10.
FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.90). The company had revenue of $188.36 million for the quarter, compared to the consensus estimate of $182.41 million. FTAI Infrastructure had a negative return on equity of 147.01% and a negative net margin of 68.58%.The company's revenue was up 95.8% on a year-over-year basis.
FTAI Infrastructure Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Monday, May 18th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, May 18th. FTAI Infrastructure's dividend payout ratio is -2.66%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on FIP. Wall Street Zen cut FTAI Infrastructure from a "hold" rating to a "sell" rating in a research report on Saturday, March 21st. BTIG Research cut their price objective on FTAI Infrastructure from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $9.00.
Check Out Our Latest Analysis on FIP
Hedge Funds Weigh In On FTAI Infrastructure
Several large investors have recently added to or reduced their stakes in FIP. Wellington Management Group LLP acquired a new position in FTAI Infrastructure in the 3rd quarter valued at approximately $28,939,000. Alliancebernstein L.P. raised its holdings 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 acquiring an additional 3,911,600 shares in the last quarter. Ares Management LLC acquired a new position in FTAI Infrastructure in the 4th quarter valued at approximately $5,521,000. Northern Right Capital Management L.P. acquired a new position in FTAI Infrastructure in the 2nd quarter valued at approximately $5,465,000. Finally, Shay Capital LLC raised its holdings in FTAI Infrastructure by 141.9% in the 3rd quarter. Shay Capital LLC now owns 1,270,060 shares of the company's stock valued at $5,537,000 after acquiring an additional 745,060 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company's stock.
FTAI Infrastructure Company Profile
(
Get Free Report)
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.
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