Choreo LLC Takes Position in FTAI Infrastructure Inc. (NASDAQ:FIP)

Choreo LLC acquired a new stake in shares of FTAI Infrastructure Inc. (NASDAQ:FIP) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 11,452 shares of the company’s stock, valued at approximately $100,000.

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in FTAI Infrastructure in the 1st quarter worth approximately $848,000. Inscription Capital LLC acquired a new position in FTAI Infrastructure in the 1st quarter worth approximately $1,103,000. Orchard Capital Management LLC increased its holdings in FTAI Infrastructure by 7.1% in the 4th quarter. Orchard Capital Management LLC now owns 2,471,786 shares of the company’s stock worth $9,615,000 after buying an additional 164,023 shares during the period. Bank of New York Mellon Corp increased its holdings in FTAI Infrastructure by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 794,868 shares of the company’s stock worth $6,860,000 after buying an additional 65,218 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in FTAI Infrastructure by 22.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,483 shares of the company’s stock worth $179,000 after buying an additional 5,244 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Activity

In other 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 stock was sold at an average price of $9.04, for a total transaction of $30,731,489.04. Following the transaction, the insider now owns 8,418,561 shares in the company, valued at approximately $76,103,791.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.17% of the company’s stock.

Analysts Set New Price Targets

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

FTAI Infrastructure Trading Up 0.7 %

FTAI Infrastructure stock opened at $9.24 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 5.42. FTAI Infrastructure Inc. has a 12 month low of $2.84 and a 12 month high of $10.45. The stock’s 50 day simple moving average is $9.34 and its two-hundred day simple moving average is $8.11. The firm has a market cap of $939.65 million, a PE ratio of -4.76 and a beta of 1.29.

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

FTAI Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 12th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.30%. FTAI Infrastructure’s dividend payout ratio (DPR) is -6.19%.

About FTAI Infrastructure

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.