FTAI Infrastructure (NASDAQ:FIP) Shares Down 5.9% – Here’s What Happened

FTAI Infrastructure Inc. (NASDAQ:FIP)’s stock price fell 5.9% during mid-day trading on Tuesday . The company traded as low as $6.61 and last traded at $6.61. 345,065 shares changed hands during trading, a decline of 67% from the average session volume of 1,034,969 shares. The stock had previously closed at $7.02.

FTAI Infrastructure Stock Down 3.6 %

The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.42 and a current ratio of 1.42. The business’s 50 day moving average is $7.85 and its 200-day moving average is $8.72. The stock has a market cap of $770.09 million, a price-to-earnings ratio of -3.42 and a beta of 1.45.

FTAI Infrastructure (NASDAQ:FIP) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.45) earnings per share for the quarter. The company had revenue of $83.31 million for the quarter. FTAI Infrastructure had a negative return on equity of 46.25% and a negative net margin of 44.32%.

FTAI Infrastructure Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th were given a $0.03 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.12 annualized dividend and a dividend yield of 1.77%. FTAI Infrastructure’s dividend payout ratio (DPR) is presently -6.06%.

Hedge Funds Weigh In On FTAI Infrastructure

A number of institutional investors and hedge funds have recently bought and sold shares of FIP. Luxor Capital Group LP raised its holdings in shares of FTAI Infrastructure by 4.6% during the 3rd quarter. Luxor Capital Group LP now owns 5,940,484 shares of the company’s stock worth $55,603,000 after acquiring an additional 258,591 shares during the period. State Street Corp boosted its holdings in FTAI Infrastructure by 2.2% in the 3rd quarter. State Street Corp now owns 2,543,305 shares of the company’s stock valued at $23,805,000 after purchasing an additional 55,936 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of FTAI Infrastructure by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,427,301 shares of the company’s stock valued at $22,724,000 after buying an additional 53,340 shares during the period. Highland Peak Capital LLC increased its holdings in shares of FTAI Infrastructure by 194.3% during the 3rd quarter. Highland Peak Capital LLC now owns 1,755,349 shares of the company’s stock worth $16,430,000 after buying an additional 1,158,816 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of FTAI Infrastructure by 44.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,470,225 shares of the company’s stock valued at $12,688,000 after buying an additional 449,481 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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.