FTAI Infrastructure Inc. (NASDAQ:FIP) Sees Significant Decline in Short Interest

FTAI Infrastructure Inc. (NASDAQ:FIP) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 5,500,000 shares, a drop of 6.6% from the August 15th total of 5,890,000 shares. Based on an average daily volume of 1,520,000 shares, the days-to-cover ratio is presently 3.6 days. Approximately 5.4% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several research firms recently commented on FIP. BTIG Research raised their target price on FTAI Infrastructure from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. JMP Securities reaffirmed a “market outperform” rating and set a $12.00 price objective on shares of FTAI Infrastructure in a research note on Monday, August 5th.

Insider Transactions at FTAI Infrastructure

In other FTAI Infrastructure news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of FTAI Infrastructure 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 in the company, valued at approximately $76,103,791.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On FTAI Infrastructure

Large investors have recently bought and sold shares of the company. Pingora Partners LLC acquired a new stake in shares of FTAI Infrastructure in the fourth quarter valued at about $6,102,000. Luxor Capital Group LP lifted its stake in FTAI Infrastructure by 49.0% in the 4th quarter. Luxor Capital Group LP now owns 4,269,813 shares of the company’s stock worth $16,610,000 after purchasing an additional 1,403,628 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in shares of FTAI Infrastructure by 26.5% during the 2nd quarter. Hood River Capital Management LLC now owns 2,957,163 shares of the company’s stock worth $25,520,000 after purchasing an additional 618,625 shares during the last quarter. Highland Peak Capital LLC purchased a new stake in shares of FTAI Infrastructure in the second quarter valued at approximately $5,148,000. Finally, Dimensional Fund Advisors LP grew its position in shares of FTAI Infrastructure by 44.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,470,225 shares of the company’s stock valued at $12,688,000 after purchasing an additional 449,481 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

FTAI Infrastructure Trading Down 1.7 %

FIP stock opened at $9.18 on Friday. The firm has a market cap of $933.55 million, a P/E ratio of -4.73 and a beta of 1.29. The company’s 50-day simple moving average is $9.34 and its 200-day simple moving average is $8.08. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 5.42. FTAI Infrastructure has a 52-week low of $2.84 and a 52-week high of $10.45.

FTAI Infrastructure (NASDAQ:FIP) last announced 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 business had revenue of $84.89 million for the quarter. FTAI Infrastructure had a negative return on equity of 44.09% and a negative net margin of 49.85%.

FTAI Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 12th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Monday, August 12th. FTAI Infrastructure’s dividend payout ratio is presently -6.19%.

FTAI Infrastructure Company 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.