Philadelphia Financial Management of San Francisco LLC Has $9.93 Million Position in FTAI Infrastructure Inc. $FIP

Key Points

• Philadelphia Financial Management of San Francisco LLC reduced its stake in FTAI Infrastructure Inc. by 38.3% during the first quarter, leaving it with 2,192,479 shares.
• FTAI Infrastructure reported a loss of $0.73 per share for the latest quarter, which was below analysts' expectations, with revenues also falling short at $122.29 million.
• The company recently declared a quarterly dividend of $0.03 per share, translating to an annualized dividend yield of 2.9%.

Philadelphia Financial Management of San Francisco LLC reduced its stake in shares of FTAI Infrastructure Inc. (NASDAQ:FIP - Free Report) by 38.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,192,479 shares of the company's stock after selling 1,360,262 shares during the quarter. FTAI Infrastructure comprises about 1.9% of Philadelphia Financial Management of San Francisco LLC's investment portfolio, making the stock its 24th largest holding. Philadelphia Financial Management of San Francisco LLC owned 1.91% of FTAI Infrastructure worth $9,932,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of FIP. Raymond James Financial Inc. acquired a new position in FTAI Infrastructure during the fourth quarter worth about $347,000. Dimensional Fund Advisors LP grew its holdings in FTAI Infrastructure by 9.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,982,315 shares of the company's stock worth $14,390,000 after acquiring an additional 176,767 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in FTAI Infrastructure by 18.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,998 shares of the company's stock worth $284,000 after acquiring an additional 5,973 shares during the period. Northern Trust Corp grew its holdings in FTAI Infrastructure by 7.0% during the fourth quarter. Northern Trust Corp now owns 913,981 shares of the company's stock worth $6,636,000 after acquiring an additional 59,674 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in FTAI Infrastructure by 767.5% during the fourth quarter. Ameriprise Financial Inc. now owns 245,192 shares of the company's stock worth $1,780,000 after acquiring an additional 216,927 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered FTAI Infrastructure from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, FTAI Infrastructure has an average rating of "Buy" and an average price target of $12.00.

FTAI Infrastructure Stock Up 5.3%

NASDAQ:FIP traded up $0.23 on Thursday, hitting $4.45. 838,309 shares of the company's stock traded hands, compared to its average volume of 1,591,306. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 13.30. FTAI Infrastructure Inc. has a 1 year low of $3.10 and a 1 year high of $9.96. The firm has a 50-day moving average price of $5.62 and a 200-day moving average price of $5.27. The company has a market cap of $511.58 million, a PE ratio of -2.91 and a beta of 1.87.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.36). FTAI Infrastructure had a negative net margin of 20.85% and a negative return on equity of 10.14%. The business had revenue of $122.29 million for the quarter, compared to analysts' expectations of $151.77 million.

FTAI Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 25th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 25th. FTAI Infrastructure's payout ratio is -7.84%.

Insiders Place Their Bets

In other FTAI Infrastructure news, CFO Carl Russell Iv Fletcher bought 10,000 shares of the stock in a transaction on Thursday, August 21st. The shares were bought at an average price of $4.48 per share, with a total value of $44,800.00. Following the purchase, the chief financial officer directly owned 30,000 shares in the company, valued at $134,400. The trade was a 50.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by company insiders.

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.