Zurcher Kantonalbank Zurich Cantonalbank Acquires New Holdings in FTAI Infrastructure Inc. (NASDAQ:FIP)

Zurcher Kantonalbank Zurich Cantonalbank bought a new position in FTAI Infrastructure Inc. (NASDAQ:FIP) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,558 shares of the company’s stock, valued at approximately $134,000.

Other hedge funds have also added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new position in shares of FTAI Infrastructure in the 4th quarter worth approximately $39,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in FTAI Infrastructure during the fourth quarter valued at approximately $41,000. Victory Capital Management Inc. raised its position in FTAI Infrastructure by 23.2% in the fourth quarter. Victory Capital Management Inc. now owns 13,200 shares of the company’s stock worth $51,000 after acquiring an additional 2,490 shares during the period. ProShare Advisors LLC boosted its stake in shares of FTAI Infrastructure by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 17,783 shares of the company’s stock worth $112,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of FTAI Infrastructure during the 1st quarter valued at $140,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FTAI Infrastructure news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $9.04, for a total transaction of $30,731,489.04. Following the completion of the sale, the insider now directly owns 8,418,561 shares of the company’s stock, valued at approximately $76,103,791.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.17% of the stock is owned by insiders.

FTAI Infrastructure Stock Performance

FIP opened at $8.16 on Tuesday. The company has a 50 day simple moving average of $9.39 and a two-hundred day simple moving average of $7.88. The company has a debt-to-equity ratio of 5.42, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market cap of $857.13 million, a P/E ratio of -4.21 and a beta of 1.29. FTAI Infrastructure Inc. has a 1-year low of $2.84 and a 1-year high of $10.45.

FTAI Infrastructure (NASDAQ:FIP) last issued its earnings results on Friday, August 2nd. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.17). The firm had revenue of $84.89 million during the quarter. FTAI Infrastructure had a negative return on equity of 44.09% and a negative net margin of 49.85%.

FTAI Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 12th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Monday, August 12th. FTAI Infrastructure’s dividend payout ratio (DPR) is presently -6.19%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. BTIG Research lifted their target price on FTAI Infrastructure from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $12.00 price objective on shares of FTAI Infrastructure in a research note on Monday, August 5th.

FTAI Infrastructure Profile

FTAI Infrastructure Inc focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.