FTAI Infrastructure (NASDAQ:FIP) Trading Up 6.6% - Here's Why

FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report)'s stock price traded up 6.6% during trading on Thursday . The company traded as high as $6.58 and last traded at $6.60. 113,048 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 1,302,110 shares. The stock had previously closed at $6.19.

Analyst Upgrades and Downgrades

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

FTAI Infrastructure Stock Performance

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 7.90. The firm has a market capitalization of $799.88 million, a price-to-earnings ratio of -5.28 and a beta of 1.89. The stock's 50 day moving average price is $6.06 and its two-hundred day moving average price is $5.71.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $1.23. The business had revenue of $96.16 million during the quarter, compared to analysts' expectations of $107.84 million. FTAI Infrastructure had a negative net margin of 16.69% and a negative return on equity of 0.20%.

FTAI Infrastructure Announces Dividend

The business 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 1.72%. The ex-dividend date of this dividend was Monday, May 19th. FTAI Infrastructure's payout ratio is currently -9.09%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FIP. Vanguard Group Inc. lifted its stake in shares of FTAI Infrastructure by 12.6% in the 4th quarter. Vanguard Group Inc. now owns 6,537,542 shares of the company's stock worth $47,463,000 after acquiring an additional 730,895 shares during the period. Hood River Capital Management LLC increased its stake in shares of FTAI Infrastructure by 32.7% during the 4th quarter. Hood River Capital Management LLC now owns 5,891,840 shares of the company's stock worth $42,775,000 after purchasing an additional 1,452,567 shares during the last quarter. Capital International Investors boosted its holdings in shares of FTAI Infrastructure by 17.0% during the 4th quarter. Capital International Investors now owns 5,345,350 shares of the company's stock worth $38,807,000 after buying an additional 778,376 shares during the period. Long Focus Capital Management LLC boosted its holdings in 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 purchasing an additional 4,248,503 shares during the period. Finally, American Assets Investment Management LLC raised 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 buying an additional 3,393,879 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

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.