Key Points
- CEO Kenneth Nicholson purchased 400,000 shares for $1.532 million at an average price of $3.83, increasing his stake by 18.39% to approximately 2.58 million shares.
- FTAI Infrastructure reported a quarterly loss of $1.27 per share, missing analysts’ $0.55 loss estimate, while revenue of $218.97 million exceeded expectations of $195.03 million.
- Analysts’ consensus rating is “Moderate Buy,” with an average price target of $9.75; the company also announced a quarterly dividend of $0.03 per share.
FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report) CEO Kenneth Nicholson bought 400,000 shares of FTAI Infrastructure stock in a transaction that occurred on Tuesday, November 10th. The stock was bought at an average price of $3.83 per share, with a total value of $1,532,000.00. Following the completion of the acquisition, the chief executive officer owned 2,575,539 shares in the company, valued at approximately $9,864,314.37. The trade was a 18.39% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
FTAI Infrastructure Trading Down 3.4%
Shares of FIP stock opened at $4.23 on Friday. FTAI Infrastructure Inc. has a 12 month low of $2.23 and a 12 month high of $6.69. The business's 50 day moving average is $2.93 and its two-hundred day moving average is $4.41.
FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported ($1.27) EPS 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 the consensus estimate of $195.03 million.
FTAI Infrastructure Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 23rd will be paid a $0.03 dividend. The ex-dividend date is Monday, November 23rd. This represents a $0.12 dividend on an annualized basis and a yield of 2.8%. FTAI Infrastructure's dividend payout ratio (DPR) is presently -2.36%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of FTAI Infrastructure during the second quarter valued at about $8,591,000. CenterBook Partners LP lifted its stake in shares of FTAI Infrastructure by 77.6% in the third quarter. CenterBook Partners LP now owns 3,485,831 shares of the company's stock valued at $9,621,000 after buying an additional 1,522,854 shares during the period. Wellington Management Group LLP grew its position in 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 buying an additional 1,259,468 shares in the last quarter. Fifth Third Bancorp acquired a new stake in FTAI Infrastructure during the first quarter worth about $1,839,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in FTAI Infrastructure by 43.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 433,930 shares of the company's stock worth $2,144,000 after buying an additional 131,521 shares in the last quarter. Institutional investors own 87.43% of the company's stock.
Wall Street Analyst Weigh In
FIP has been the subject of a number of research analyst reports. UBS Group reissued a "buy" rating on shares of FTAI Infrastructure in a research report on Friday, November 6th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of FTAI Infrastructure in a research report on Wednesday, September 9th. Jefferies Financial Group set a $10.00 price target on FTAI Infrastructure in a research report on Tuesday, September 29th. JonesTrading reiterated a "buy" rating and issued a $8.75 price objective on shares of FTAI Infrastructure in a research note on Monday, September 28th. Finally, BTIG Research cut their price objective on FTAI Infrastructure from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, November 6th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, FTAI Infrastructure currently has a consensus rating of "Moderate Buy" and an average target price of $9.75.
Get Our Latest Report on FIP
FTAI Infrastructure Company Profile
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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.
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