Vanguard Group Inc. Sells 91,721 Shares of FTAI Infrastructure Inc. $FIP

Key Points

• Vanguard Group Inc. reduced its stake in FTAI Infrastructure by 1.4%, selling 91,721 shares and now holds approximately 6.4 million shares valued at $29.2 million.
• FTAI Infrastructure's stock has been recently downgraded from a "hold" to a "sell" rating by analysts, though one analyst maintains a "buy" rating with a target price of $12.00.
• The company reported a quarterly loss of ($0.73) earnings per share, falling short of analysts' estimates, while also announcing a quarterly dividend of $0.03.

Vanguard Group Inc. lessened its position in FTAI Infrastructure Inc. (NASDAQ:FIP - Free Report) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,445,821 shares of the company's stock after selling 91,721 shares during the quarter. Vanguard Group Inc. owned 5.62% of FTAI Infrastructure worth $29,200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FIP. Teacher Retirement System of Texas purchased a new stake in FTAI Infrastructure during the first quarter valued at about $68,000. Fortitude Advisory Group L.L.C. purchased a new stake in FTAI Infrastructure during the first quarter valued at about $113,000. Y Intercept Hong Kong Ltd purchased a new stake in FTAI Infrastructure during the first quarter valued at about $127,000. Freestone Grove Partners LP purchased a new stake in FTAI Infrastructure during the fourth quarter valued at about $128,000. Finally, Stephens Inc. AR boosted its position in FTAI Infrastructure by 10.6% during the first quarter. Stephens Inc. AR now owns 33,450 shares of the company's stock valued at $152,000 after buying an additional 3,200 shares during the period. Institutional investors own 87.43% of the company's stock.

FTAI Infrastructure Trading Down 6.5%

Shares of NASDAQ FIP traded down $0.31 during trading hours on Tuesday, hitting $4.49. The company's stock had a trading volume of 2,128,704 shares, compared to its average volume of 3,449,847. The company has a debt-to-equity ratio of 13.30, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market cap of $516.75 million, a price-to-earnings ratio of -2.93 and a beta of 1.87. FTAI Infrastructure Inc. has a 12 month low of $3.10 and a 12 month high of $9.96. The business has a 50-day simple moving average of $5.87 and a 200-day simple moving average of $5.36.

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

FTAI Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $0.12 annualized dividend and a dividend yield of 2.7%. FTAI Infrastructure's dividend payout ratio (DPR) is presently -7.84%.

Insider Buying and Selling

In related news, CFO Carl Russell Iv Fletcher acquired 10,000 shares of the stock in a transaction on Thursday, August 21st. The stock was acquired at an average cost of $4.48 per share, for a total transaction of $44,800.00. Following the completion of the acquisition, the chief financial officer directly owned 30,000 shares of the company's stock, valued at approximately $134,400. This represents a 50.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.17% of the stock is owned by company insiders.

Analyst Ratings Changes

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

FTAI Infrastructure 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.