Ameriprise Financial Inc. Purchases 216,927 Shares of FTAI Infrastructure Inc. (NASDAQ:FIP)

Ameriprise Financial Inc. lifted its position in FTAI Infrastructure Inc. (NASDAQ:FIP - Free Report) by 767.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 245,192 shares of the company's stock after buying an additional 216,927 shares during the period. Ameriprise Financial Inc. owned approximately 0.22% of FTAI Infrastructure worth $1,780,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its stake in FTAI Infrastructure by 80.1% in the 4th quarter. SG Americas Securities LLC now owns 53,420 shares of the company's stock worth $388,000 after purchasing an additional 23,766 shares during the period. Castellan Group bought a new stake in FTAI Infrastructure during the fourth quarter worth approximately $96,000. Rhumbline Advisers grew its stake in FTAI Infrastructure by 1.4% in the 4th quarter. Rhumbline Advisers now owns 158,513 shares of the company's stock valued at $1,151,000 after buying an additional 2,141 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of FTAI Infrastructure in the fourth quarter worth about $97,000. Finally, Versor Investments LP bought a new position in FTAI Infrastructure during the fourth quarter worth $115,000. Institutional investors and hedge funds own 87.43% of the company's stock.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a "market outperform" rating and issued a $12.00 target price on shares of FTAI Infrastructure in a research report on Tuesday, April 22nd.

FTAI Infrastructure Trading Up 3.7%

NASDAQ:FIP traded up $0.23 on Wednesday, reaching $6.27. The company's stock had a trading volume of 320,955 shares, compared to its average volume of 1,321,674. FTAI Infrastructure Inc. has a 1-year low of $3.10 and a 1-year high of $10.46. 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 firm has a market cap of $718.98 million, a PE ratio of -3.17 and a beta of 1.70. The business's 50-day moving average price is $4.51 and its two-hundred day moving average price is $6.10.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $1.23. FTAI Infrastructure had a negative net margin of 44.32% and a negative return on equity of 46.25%. The firm had revenue of $96.16 million for the quarter, compared to analyst estimates of $107.84 million.

FTAI Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Monday, May 19th. FTAI Infrastructure's payout ratio is presently -9.09%.

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.