Rhumbline Advisers Increases Stock Holdings in FTAI Infrastructure Inc. (NASDAQ:FIP)

Rhumbline Advisers increased its holdings in FTAI Infrastructure Inc. (NASDAQ:FIP) by 17.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,509 shares of the company’s stock after acquiring an additional 22,569 shares during the quarter. Rhumbline Advisers owned about 0.15% of FTAI Infrastructure worth $1,333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in FTAI Infrastructure in the first quarter worth $848,000. Inscription Capital LLC bought a new position in FTAI Infrastructure in the first quarter worth $1,103,000. Orchard Capital Management LLC raised its holdings in FTAI Infrastructure by 7.1% in the fourth quarter. Orchard Capital Management LLC now owns 2,471,786 shares of the company’s stock worth $9,615,000 after purchasing an additional 164,023 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in FTAI Infrastructure by 8.9% in the second quarter. Bank of New York Mellon Corp now owns 794,868 shares of the company’s stock worth $6,860,000 after purchasing an additional 65,218 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in FTAI Infrastructure by 22.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,483 shares of the company’s stock worth $179,000 after purchasing an additional 5,244 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Insider Activity

In related 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 value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.17% of the company’s stock.

Wall Street Analysts Forecast Growth

FIP has been the subject of a number of research reports. BTIG Research increased their price objective 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 reiterated 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 Price Performance

Shares of NASDAQ:FIP opened at $9.24 on Friday. FTAI Infrastructure Inc. has a 1-year low of $2.84 and a 1-year high of $10.45. 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 business has a fifty day moving average price of $9.34 and a 200-day moving average price of $8.13. The company has a market capitalization of $939.65 million, a PE ratio of -4.76 and a beta of 1.29.

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

FTAI Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders 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 1.30%. FTAI Infrastructure’s payout ratio is presently -6.19%.

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.