Orchard Capital Management LLC Has $21.33 Million Holdings in FTAI Infrastructure Inc. (NASDAQ:FIP)

Orchard Capital Management LLC trimmed its holdings in shares of FTAI Infrastructure Inc. (NASDAQ:FIP) by 1.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,471,786 shares of the company’s stock after selling 29,444 shares during the period. FTAI Infrastructure makes up about 6.4% of Orchard Capital Management LLC’s investment portfolio, making the stock its biggest position. Orchard Capital Management LLC owned 2.43% of FTAI Infrastructure worth $21,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Luxor Capital Group LP increased its position in shares of FTAI Infrastructure by 49.0% during the 4th quarter. Luxor Capital Group LP now owns 4,269,813 shares of the company’s stock worth $16,610,000 after purchasing an additional 1,403,628 shares in the last quarter. Pingora Partners LLC acquired a new stake in FTAI Infrastructure in the 4th quarter valued at about $6,102,000. Dimensional Fund Advisors LP increased its position in FTAI Infrastructure by 44.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,470,225 shares of the company’s stock valued at $12,688,000 after acquiring an additional 449,481 shares in the last quarter. Bank of New York Mellon Corp increased its position in FTAI Infrastructure by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 794,868 shares of the company’s stock valued at $6,860,000 after acquiring an additional 65,218 shares in the last quarter. Finally, Highland Peak Capital LLC acquired a new stake in FTAI Infrastructure in the 2nd quarter valued at about $5,148,000. 87.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on FIP. BTIG Research raised their price objective 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 target on shares of FTAI Infrastructure in a research note on Monday, August 5th.

Insider Activity at FTAI Infrastructure

In related news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 owns 8,418,561 shares in the company, valued at $76,103,791.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.17% of the company’s stock.

FTAI Infrastructure Trading Down 1.7 %

FIP opened at $9.18 on Friday. 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 company has a market cap of $933.55 million, a price-to-earnings ratio of -4.73 and a beta of 1.29. The firm has a 50 day simple moving average of $9.34 and a 200 day simple moving average of $8.08. FTAI Infrastructure Inc. has a fifty-two week low of $2.84 and a fifty-two week high of $10.45.

FTAI Infrastructure (NASDAQ:FIP) last issued 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). The firm 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors 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 1.31%. The ex-dividend date of this dividend was Monday, August 12th. FTAI Infrastructure’s dividend payout ratio is currently -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.