FTAI Infrastructure Inc. (NASDAQ:FIP) Short Interest Down 6.6% in August

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

Insider Activity at FTAI Infrastructure

In other 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 transaction of $30,731,489.04. Following the completion of the transaction, the insider now directly owns 8,418,561 shares of the company’s stock, valued at $76,103,791.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FTAI Infrastructure

Hedge funds have recently bought and sold shares of the company. Doheny Asset Management CA acquired a new position in FTAI Infrastructure in the second quarter worth about $712,000. Algert Global LLC acquired a new position in FTAI Infrastructure in the second quarter worth about $88,000. Luxor Capital Group LP increased its holdings in shares of FTAI Infrastructure by 8.0% during the second quarter. Luxor Capital Group LP now owns 5,681,893 shares of the company’s stock worth $49,035,000 after buying an additional 420,019 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of FTAI Infrastructure by 8.8% during the second quarter. The Manufacturers Life Insurance Company now owns 38,989 shares of the company’s stock worth $336,000 after buying an additional 3,158 shares in the last quarter. Finally, Hood River Capital Management LLC increased its holdings in shares of FTAI Infrastructure by 26.5% during the second quarter. Hood River Capital Management LLC now owns 2,957,163 shares of the company’s stock worth $25,520,000 after buying an additional 618,625 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

FTAI Infrastructure Stock Up 0.2 %

Shares of NASDAQ FIP traded up $0.02 during mid-day trading on Wednesday, reaching $9.38. The company had a trading volume of 22,582 shares, compared to its average volume of 1,192,871. The stock has a market capitalization of $953.89 million, a PE ratio of -4.82 and a beta of 1.29. FTAI Infrastructure has a twelve month low of $2.84 and a twelve month high of $10.45. The stock’s 50 day moving average is $9.33 and its 200-day moving average is $8.06. The company has a debt-to-equity ratio of 5.42, a quick ratio of 2.10 and a current ratio of 2.10.

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 business had revenue of $84.89 million during the quarter. FTAI Infrastructure had a negative return on equity of 44.09% and a negative net margin of 49.85%.

FTAI Infrastructure Dividend Announcement

The company also recently declared 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 1.28%. The ex-dividend date was Monday, August 12th. FTAI Infrastructure’s dividend payout ratio (DPR) is -6.19%.

Analyst Ratings Changes

FIP has been the subject of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and set a $12.00 price objective on shares of FTAI Infrastructure in a research report on Monday, August 5th. BTIG Research increased their price objective on FTAI Infrastructure from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, June 6th.

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.