FTAI Infrastructure (NASDAQ:FIP) Trading 3.2% Higher - Here's What Happened

FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report) rose 3.2% during mid-day trading on Thursday . The company traded as high as $6.46 and last traded at $6.45. Approximately 148,556 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 1,314,783 shares. The stock had previously closed at $6.25.

Analysts Set New Price Targets

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

FTAI Infrastructure Stock Down 0.2%

The firm has a market capitalization of $736.19 million, a price-to-earnings ratio of -3.24 and a beta of 1.94. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.42 and a quick ratio of 1.42. The business has a fifty day moving average price of $4.80 and a two-hundred day moving average price of $6.01.

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 for the quarter, topping 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 company had revenue of $96.16 million for the quarter, compared to the consensus estimate of $107.84 million.

FTAI Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Monday, May 19th. FTAI Infrastructure's payout ratio is presently -9.09%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Long Focus Capital Management LLC raised its stake in shares of FTAI Infrastructure by 820.7% in the 1st quarter. Long Focus Capital Management LLC now owns 4,766,162 shares of the company's stock valued at $21,591,000 after acquiring an additional 4,248,503 shares during the period. American Assets Investment Management LLC boosted its stake in FTAI Infrastructure by 1,780.5% in the first 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. Highland Peak Capital LLC increased its position in FTAI Infrastructure by 127.4% during the first quarter. Highland Peak Capital LLC now owns 3,466,774 shares of the company's stock worth $15,704,000 after buying an additional 1,942,035 shares during the period. Hood River Capital Management LLC raised its position in FTAI Infrastructure by 32.7% in the 4th quarter. Hood River Capital Management LLC now owns 5,891,840 shares of the company's stock valued at $42,775,000 after purchasing an additional 1,452,567 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. acquired a new position in FTAI Infrastructure in the fourth quarter valued at $5,938,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

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.