SG Americas Securities LLC Sells 7,497 Shares of FTAI Infrastructure Inc. (NASDAQ:FIP)

SG Americas Securities LLC cut its position in FTAI Infrastructure Inc. (NASDAQ:FIP) by 21.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,014 shares of the company’s stock after selling 7,497 shares during the quarter. SG Americas Securities LLC’s holdings in FTAI Infrastructure were worth $233,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of FTAI Infrastructure during the fourth quarter worth $25,000. Cerity Partners LLC acquired a new position in shares of FTAI Infrastructure during the fourth quarter worth $439,000. Victory Capital Management Inc. increased its position in shares of FTAI Infrastructure by 23.2% during the fourth quarter. Victory Capital Management Inc. now owns 13,200 shares of the company’s stock worth $51,000 after purchasing an additional 2,490 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of FTAI Infrastructure during the fourth quarter worth $48,000. Finally, Van Hulzen Asset Management LLC acquired a new stake in FTAI Infrastructure in the fourth quarter worth about $58,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity 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 dated 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 completion of the transaction, the insider now owns 8,418,561 shares in the company, valued at approximately $76,103,791.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

FTAI Infrastructure Stock Up 1.4 %

FTAI Infrastructure stock opened at $9.29 on Friday. The business’s 50-day simple moving average is $9.23 and its two-hundred day simple moving average is $7.47. The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $944.74 million, a PE ratio of -4.79 and a beta of 1.31. FTAI Infrastructure Inc. has a fifty-two week low of $2.84 and a fifty-two week high of $10.45.

FTAI Infrastructure (NASDAQ:FIP) last issued its earnings results on Friday, August 2nd. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.17). FTAI Infrastructure had a negative net margin of 49.44% and a negative return on equity of 37.21%. The firm had revenue of $84.89 million during the quarter.

FTAI Infrastructure Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.12 annualized dividend and a dividend yield of 1.29%. FTAI Infrastructure’s dividend payout ratio (DPR) is presently -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.