FTAI Infrastructure Inc. (NASDAQ:FIP) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its holdings in shares of FTAI Infrastructure Inc. (NASDAQ:FIP) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 204,278 shares of the company’s stock after selling 2,603 shares during the quarter. King Luther Capital Management Corp owned approximately 0.20% of FTAI Infrastructure worth $1,763,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FIP. Quadrature Capital Ltd bought a new stake in FTAI Infrastructure in the fourth quarter valued at $39,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in FTAI Infrastructure during the 4th quarter worth approximately $41,000. Choreo LLC acquired a new position in FTAI Infrastructure during the second quarter valued at $100,000. Victory Capital Management Inc. increased its holdings in shares of FTAI Infrastructure by 23.2% in the 4th quarter. Victory Capital Management Inc. now owns 13,200 shares of the company’s stock valued at $51,000 after purchasing an additional 2,490 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in FTAI Infrastructure in the 2nd quarter valued at approximately $134,000. Institutional investors own 87.43% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other FTAI Infrastructure news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 8,418,561 shares of the company’s stock, valued at approximately $76,103,791.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.17% of the stock is currently owned by insiders.

FTAI Infrastructure Stock Up 0.7 %

FTAI Infrastructure stock opened at $9.24 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 5.42. The company has a market capitalization of $939.65 million, a P/E ratio of -4.76 and a beta of 1.29. FTAI Infrastructure Inc. has a 1-year low of $2.84 and a 1-year high of $10.45. The firm’s fifty day simple moving average is $9.34 and its 200-day simple moving average is $8.13.

FTAI Infrastructure (NASDAQ:FIP) last announced its quarterly earnings results on Friday, August 2nd. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.17). The company had revenue of $84.89 million for the quarter. FTAI Infrastructure had a negative net margin of 49.85% and a negative return on equity of 44.09%.

FTAI Infrastructure Announces Dividend

The firm 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 was Monday, August 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.30%. FTAI Infrastructure’s dividend payout ratio (DPR) 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.