82,510 Shares in FTAI Infrastructure Inc. (NASDAQ:FIP) Bought by Doheny Asset Management CA

Doheny Asset Management CA acquired a new position in FTAI Infrastructure Inc. (NASDAQ:FIP) during the second quarter, Holdings Channel reports. The firm acquired 82,510 shares of the company’s stock, valued at approximately $712,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Algert Global LLC purchased a new stake in shares of FTAI Infrastructure in the second quarter worth $88,000. Luxor Capital Group LP raised its position in FTAI Infrastructure by 8.0% during the second quarter. Luxor Capital Group LP now owns 5,681,893 shares of the company’s stock valued at $49,035,000 after purchasing an additional 420,019 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in FTAI Infrastructure by 8.8% during the second quarter. The Manufacturers Life Insurance Company now owns 38,989 shares of the company’s stock valued at $336,000 after purchasing an additional 3,158 shares in the last quarter. Hood River Capital Management LLC raised its position in FTAI Infrastructure by 26.5% during the second quarter. Hood River Capital Management LLC now owns 2,957,163 shares of the company’s stock valued at $25,520,000 after purchasing an additional 618,625 shares in the last quarter. Finally, First Eagle Investment Management LLC purchased a new stake in FTAI Infrastructure during the second quarter valued at about $2,766,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

FTAI Infrastructure Stock Up 0.2 %

Shares of NASDAQ:FIP opened at $9.13 on Friday. The stock’s 50-day moving average price is $9.28 and its 200-day moving average price is $8.26. FTAI Infrastructure Inc. has a 12-month low of $2.84 and a 12-month high of $10.45. The stock has a market capitalization of $928.47 million, a P/E ratio of -4.71 and a beta of 1.29. 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 (NASDAQ:FIP) last announced its quarterly earnings data on Friday, August 2nd. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have weighed in on FIP. JMP Securities restated a “market outperform” rating and set a $12.00 price target on shares of FTAI Infrastructure in a research report on Monday, August 5th. BTIG Research raised their price target on FTAI Infrastructure from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, June 6th.

Insider Activity

In other news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of the firm’s 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 transaction, the insider now directly owns 8,418,561 shares of the company’s stock, valued at $76,103,791.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.17% of the company’s stock.

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.