FTAI Infrastructure Inc. (NASDAQ:FIP) Sees Large Decrease in Short Interest

FTAI Infrastructure Inc. (NASDAQ:FIP) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 5,500,000 shares, a drop of 6.6% from the August 15th total of 5,890,000 shares. Based on an average trading volume of 1,520,000 shares, the days-to-cover ratio is currently 3.6 days. Currently, 5.4% of the shares of the company are sold short.

Insider Activity at FTAI Infrastructure

In other FTAI Infrastructure news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of the business’s stock in a transaction 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 transaction, the insider now 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 can be accessed through the SEC website. 1.17% of the stock is currently owned by company insiders.

Institutional Trading of FTAI Infrastructure

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

FTAI Infrastructure Trading Down 0.2 %

Shares of FTAI Infrastructure stock opened at $9.34 on Thursday. The stock has a market capitalization of $949.82 million, a P/E ratio of -4.81 and a beta of 1.29. FTAI Infrastructure has a 52-week low of $2.84 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 stock’s 50-day simple moving average is $9.34 and its 200 day simple moving average is $8.07.

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

FTAI Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 12th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, August 12th. FTAI Infrastructure’s dividend payout ratio (DPR) is presently -6.19%.

Wall Street Analyst Weigh In

FIP has been the subject of a number of research reports. BTIG Research increased 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 reissued a “market outperform” rating and set a $12.00 price objective on shares of FTAI Infrastructure in a report on Monday, August 5th.

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.