First Eagle Investment Management LLC Takes $2.77 Million Position in FTAI Infrastructure Inc. (NASDAQ:FIP)

First Eagle Investment Management LLC purchased a new position in FTAI Infrastructure Inc. (NASDAQ:FIP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 320,492 shares of the company’s stock, valued at approximately $2,766,000. First Eagle Investment Management LLC owned 0.32% of FTAI Infrastructure at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FIP. Quadrature Capital Ltd purchased a new stake in FTAI Infrastructure in the fourth quarter worth $39,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in FTAI Infrastructure in the 4th quarter worth about $41,000. Victory Capital Management Inc. increased its holdings in FTAI Infrastructure by 23.2% in the 4th quarter. Victory Capital Management Inc. now owns 13,200 shares of the company’s stock worth $51,000 after acquiring an additional 2,490 shares during the last quarter. Choreo LLC purchased a new stake in FTAI Infrastructure during the second quarter valued at about $100,000. Finally, ProShare Advisors LLC boosted its position in FTAI Infrastructure by 8.5% during 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. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on FIP shares. JMP Securities reissued a “market outperform” rating and issued a $12.00 price target on shares of FTAI Infrastructure in a research report on Monday, August 5th. BTIG Research boosted their target price on shares of 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 firm’s stock in a transaction dated 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 sale, 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 accessible through this hyperlink. 1.17% of the stock is owned by company insiders.

FTAI Infrastructure Stock Up 0.7 %

FIP stock opened at $9.24 on Friday. The stock has a 50-day simple moving average of $9.34 and a two-hundred day simple moving average of $8.11. FTAI Infrastructure Inc. has a twelve month low of $2.84 and a twelve month high of $10.45. The firm has a market capitalization of $939.65 million, a PE ratio of -4.76 and a beta of 1.29. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 5.42.

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

FTAI Infrastructure Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 12th were given a $0.03 dividend. 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%.

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.