Key Points
- CFO Carl Russell Iv Fletcher bought 5,000 shares at an average price of $3.79, spending $18,950. The purchase increased his holdings by 12.5% to 45,000 shares.
- FTAI Infrastructure reported a quarterly loss of $1.27 per share, missing the consensus estimate of a $0.55 loss, while revenue of $218.97 million exceeded expectations.
- The company declared a quarterly dividend of $0.03 per share, equivalent to $0.12 annually and a 3.1% yield at the reported share price.
FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report) CFO Carl Russell Iv Fletcher bought 5,000 shares of FTAI Infrastructure stock in a transaction dated Tuesday, November 10th. The shares were bought at an average cost of $3.79 per share, for a total transaction of $18,950.00. Following the completion of the transaction, the chief financial officer owned 45,000 shares of the company's stock, valued at approximately $170,550. This trade represents a 12.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
FTAI Infrastructure Stock Up 3.5%
FTAI Infrastructure stock opened at $3.84 on Wednesday. The company has a 50 day moving average price of $2.89 and a 200-day moving average price of $4.43. FTAI Infrastructure Inc. has a fifty-two week low of $2.23 and a fifty-two week high of $6.69.
FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The company had revenue of $218.97 million during the quarter, compared to the consensus estimate of $195.03 million.
FTAI Infrastructure Announces Dividend
The company also recently disclosed 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 dividend yield of 3.1%. The ex-dividend date is Monday, November 23rd. FTAI Infrastructure's payout ratio is presently -2.36%.
Institutional Trading of FTAI Infrastructure
A number of hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd purchased a new stake in FTAI Infrastructure during the second quarter worth $65,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of FTAI Infrastructure in the second quarter worth about $75,000. Connective Capital Management LLC acquired a new position in shares of FTAI Infrastructure in the second quarter worth about $167,000. Royal Bank of Canada raised its position in shares of FTAI Infrastructure by 47.2% in the first quarter. Royal Bank of Canada now owns 69,236 shares of the company's stock worth $341,000 after acquiring an additional 22,214 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of FTAI Infrastructure by 28.3% during the 1st quarter. Quantinno Capital Management LP now owns 86,840 shares of the company's stock worth $429,000 after acquiring an additional 19,155 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have weighed in on FIP shares. Weiss Ratings restated a "sell (e+)" rating on shares of FTAI Infrastructure in a report on Wednesday, September 9th. Wall Street Zen cut shares of FTAI Infrastructure from a "sell" rating to a "strong sell" rating in a research report on Monday, July 20th. JonesTrading reissued a "buy" rating and issued a $8.75 price target on shares of FTAI Infrastructure in a report on Monday, September 28th. UBS Group reissued a "buy" rating on shares of FTAI Infrastructure in a research report on Friday. Finally, BTIG Research reduced their price target on shares of FTAI Infrastructure from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Friday. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $9.75.
Check Out Our Latest Analysis on FIP
FTAI Infrastructure Company Profile
(
Get Free Report)
FTAI Infrastructure Inc. is an infrastructure company that owns and operates critical transportation and energy assets. Its portfolio is designed to support the movement, storage and processing of essential commodities and industrial products, with a focus on long-lived infrastructure that serves industrial and logistics customers. The company's businesses include Transtar, an industrial rail network serving manufacturing facilities, ports and other freight customers; Jefferson Terminal, a multimodal port and logistics facility on the U.S. Gulf Coast; and Long Ridge Energy Terminal, an energy infrastructure complex in Ohio that includes natural gas-fired power generation and related facilities.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
