FTAI Infrastructure (NASDAQ:FIP) Shares Gap Down on Disappointing Earnings

Key Points

• FTAI Infrastructure shares fell sharply after the company reported disappointing earnings, with an EPS of ($0.73) that missed estimates.
• Revenues for the quarter were significantly lower than expected, totaling $122.29 million compared to a forecast of $151.77 million.
• Institutional investors hold a significant majority of the company, with 87.43% of the stock owned by such entities.

FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report)'s share price gapped down prior to trading on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $6.24, but opened at $5.84. FTAI Infrastructure shares last traded at $5.38, with a volume of 1,509,506 shares trading hands.

The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.36). The company had revenue of $122.29 million for the quarter, compared to the consensus estimate of $151.77 million. FTAI Infrastructure had a negative net margin of 16.69% and a negative return on equity of 0.20%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On FTAI Infrastructure

Several institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in shares of FTAI Infrastructure by 7.0% during the 4th quarter. Northern Trust Corp now owns 913,981 shares of the company's stock valued at $6,636,000 after acquiring an additional 59,674 shares in the last quarter. American Assets Investment Management LLC increased its stake in shares of FTAI Infrastructure by 1,780.5% in the 1st quarter. American Assets Investment Management LLC now owns 3,584,490 shares of the company's stock valued at $16,238,000 after acquiring an additional 3,393,879 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of FTAI Infrastructure by 25.5% during the fourth quarter. Bank of America Corp DE now owns 676,954 shares of the company's stock valued at $4,915,000 after purchasing an additional 137,405 shares during the period. Ameriprise Financial Inc. grew its stake in FTAI Infrastructure by 767.5% in the fourth quarter. Ameriprise Financial Inc. now owns 245,192 shares of the company's stock valued at $1,780,000 after acquiring an additional 216,927 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in shares of FTAI Infrastructure by 37.8% in the 4th quarter. Two Sigma Advisers LP now owns 189,500 shares of the company's stock worth $1,376,000 after acquiring an additional 52,000 shares during the last quarter. Institutional investors own 87.43% of the company's stock.

FTAI Infrastructure Price Performance

The stock has a market capitalization of $611.10 million, a PE ratio of -4.06 and a beta of 1.89. The business's 50-day moving average price is $6.41 and its 200 day moving average price is $5.62. The company has a debt-to-equity ratio of 7.90, a quick ratio of 0.86 and a current ratio of 0.86.

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.

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