FTAI Infrastructure (NASDAQ:FIP) CEO Buys $1,532,000.00 in Stock

Key Points

• CEO Kenneth Nicholson bought 400,000 FTAI Infrastructure shares for $1.532 million at an average price of $3.83, increasing his stake by 18.39% to about 2.58 million shares.
• The company reported quarterly EPS of -$1.27, missing the -$0.55 analyst estimate, while revenue of $218.97 million exceeded the $195.03 million consensus.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $9.75; the company also announced a quarterly dividend of $0.03 per share.

FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report) CEO Kenneth Nicholson purchased 400,000 shares of the stock in a transaction that occurred on Tuesday, November 10th. The shares were acquired at an average price of $3.83 per share, for a total transaction of $1,532,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,575,539 shares of the company's stock, valued at $9,864,314.37. The trade was a 18.39% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

FTAI Infrastructure Trading Up 14.1%

Shares of NASDAQ FIP opened at $4.38 on Thursday. FTAI Infrastructure Inc. has a 12-month low of $2.23 and a 12-month high of $6.69. The stock has a market cap of $517.64 million, a PE ratio of -0.86 and a beta of 1.82. The company has a 50-day moving average of $2.91 and a 200 day moving average of $4.42.

FTAI Infrastructure (NASDAQ:FIP - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported ($1.27) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.72). The business had revenue of $218.97 million for the quarter, compared to the consensus estimate of $195.03 million.

FTAI Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Monday, November 23rd will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, November 23rd. FTAI Infrastructure's dividend payout ratio is currently -2.36%.

Institutional Trading of FTAI Infrastructure

A number of large investors have recently modified their holdings of FIP. Teachers Retirement System of The State of Kentucky boosted its holdings in FTAI Infrastructure by 12.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 535,996 shares of the company's stock valued at $1,479,000 after purchasing an additional 58,979 shares during the period. CenterBook Partners LP raised its position in FTAI Infrastructure by 77.6% in the 3rd quarter. CenterBook Partners LP now owns 3,485,831 shares of the company's stock valued at $9,621,000 after purchasing an additional 1,522,854 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in FTAI Infrastructure in the 2nd quarter valued at about $65,000. Connective Capital Management LLC acquired a new stake in FTAI Infrastructure in the 2nd quarter valued at about $167,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of FTAI Infrastructure in the 2nd quarter valued at about $75,000. Hedge funds and other institutional investors own 87.43% of the company's stock.

Analysts Set New Price Targets

FIP has been the topic of a number of research analyst reports. Citigroup reissued a "market outperform" rating on shares of FTAI Infrastructure in a research report on Tuesday, September 29th. BTIG Research dropped their price objective on FTAI Infrastructure from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, November 6th. Jefferies Financial Group set a $10.00 price objective on FTAI Infrastructure in a report on Tuesday, September 29th. Citizens Jmp started coverage on FTAI Infrastructure in a research note on Wednesday, July 15th. They set a "market outperform" rating and a $10.00 target price on the stock. Finally, JonesTrading restated a "buy" rating and set a $8.75 target price on shares of FTAI Infrastructure in a report on Monday, September 28th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, FTAI Infrastructure currently has a consensus rating of "Moderate Buy" and an average target price of $9.75.

FTAI Infrastructure Company Profile

FTAI Infrastructure NASDAQ: FIP is an infrastructure company focused on owning and operating assets in the transportation and energy sectors. Its businesses provide facilities and services that support the storage, handling and movement of commodities and other industrial products. The company's portfolio includes Jefferson Terminal, a multimodal logistics and storage facility in Beaumont, Texas, and Repauno, a deepwater port and industrial site in Gibbstown, New Jersey. These facilities connect customers to transportation networks such as rail, road and waterways.

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