The Manufacturers Life Insurance Company Has $336,000 Holdings in FTAI Infrastructure Inc. (NASDAQ:FIP)

The Manufacturers Life Insurance Company raised its stake in FTAI Infrastructure Inc. (NASDAQ:FIP) by 8.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,989 shares of the company’s stock after buying an additional 3,158 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in FTAI Infrastructure were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FIP. Quadrature Capital Ltd acquired a new stake in shares of FTAI Infrastructure in the 4th quarter valued at approximately $39,000. Choreo LLC acquired a new stake in FTAI Infrastructure in the second quarter worth $100,000. ProShare Advisors LLC raised its holdings in FTAI Infrastructure by 8.5% in the first quarter. ProShare Advisors LLC now owns 17,783 shares of the company’s stock worth $112,000 after purchasing an additional 1,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of FTAI Infrastructure during the second quarter worth $134,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of FTAI Infrastructure in the 1st quarter valued at $140,000. Institutional investors own 87.43% of the company’s stock.

Insider Buying and Selling at FTAI Infrastructure

In related news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of the 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 directly owns 8,418,561 shares in the company, valued at approximately $76,103,791.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.17% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a “market outperform” rating and set a $12.00 price objective on shares of FTAI Infrastructure in a research note on Monday, August 5th.

FTAI Infrastructure Price Performance

Shares of FIP opened at $9.10 on Friday. The stock has a 50 day simple moving average of $9.16 and a 200 day simple moving average of $8.56. FTAI Infrastructure Inc. has a 52-week low of $3.01 and a 52-week high of $10.45. The company has a debt-to-equity ratio of 5.42, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market capitalization of $925.42 million, a PE ratio of -4.69 and a beta of 1.28.

FTAI Infrastructure (NASDAQ:FIP) last released 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 during the quarter.

FTAI Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders 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 was Monday, August 12th. FTAI Infrastructure’s dividend payout ratio (DPR) is presently -6.19%.

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.