Gabelli Funds LLC Has $233,000 Stake in FTAI Infrastructure Inc. (NASDAQ:FIP)

Gabelli Funds LLC cut its stake in FTAI Infrastructure Inc. (NASDAQ:FIP) by 27.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,000 shares of the company’s stock after selling 10,000 shares during the period. Gabelli Funds LLC’s holdings in FTAI Infrastructure were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Luxor Capital Group LP boosted its position in shares of FTAI Infrastructure by 49.0% during the fourth quarter. Luxor Capital Group LP now owns 4,269,813 shares of the company’s stock worth $16,610,000 after buying an additional 1,403,628 shares during the period. Orchard Capital Management LLC lifted its stake 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 valued at $9,615,000 after acquiring an additional 164,023 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in FTAI Infrastructure by 44.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,470,225 shares of the company’s stock worth $12,688,000 after acquiring an additional 449,481 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of FTAI Infrastructure by 8.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 794,868 shares of the company’s stock worth $6,860,000 after acquiring an additional 65,218 shares in the last quarter. Finally, Highland Peak Capital LLC acquired a new stake in shares of FTAI Infrastructure in the second quarter valued at approximately $5,148,000. Institutional investors own 87.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on FIP. BTIG Research raised their target price on shares of 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 restated a “market outperform” rating and issued a $12.00 price objective on shares of FTAI Infrastructure in a report on Monday, August 5th.

FTAI Infrastructure Trading Up 1.0 %

Shares of FTAI Infrastructure stock opened at $9.11 on Friday. The stock has a market cap of $926.43 million, a P/E ratio of -4.65 and a beta of 1.29. 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 Inc. has a 12-month low of $2.84 and a 12-month high of $10.45. The business’s 50 day moving average is $9.30 and its 200-day moving average is $8.21.

FTAI Infrastructure (NASDAQ:FIP) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($0.52) earnings per share (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 firm had revenue of $84.89 million for the quarter.

FTAI Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 12th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Monday, August 12th. FTAI Infrastructure’s payout ratio is currently -6.19%.

Insiders Place Their Bets

In other news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $9.04, for a total value 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 $76,103,791.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.17% of the company’s stock.

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.