FTAI Infrastructure (NASDAQ:FIP) CFO Carl Russell Iv Fletcher Acquires 5,000 Shares of Stock

Key Points

• CFO Carl Russell Iv Fletcher bought 5,000 shares at an average of $3.79, spending $18,950. The purchase increased his holdings by 12.5% to 45,000 shares.
• FTAI Infrastructure reported a quarterly loss of $1.27 per share, missing analysts’ $0.55 loss estimate, while revenue of $218.97 million exceeded expectations of $195.03 million.
• The company announced a quarterly dividend of $0.03 per share, equivalent to $0.12 annually and a 3.1% yield. Analysts’ average rating was “Moderate Buy,” with a $9.75 average price target.

FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report) CFO Carl Russell Iv Fletcher acquired 5,000 shares of the business's stock in a transaction dated Tuesday, November 10th. The shares were bought at an average price of $3.79 per share, for a total transaction of $18,950.00. Following the completion of the acquisition, the chief financial officer owned 45,000 shares in the company, valued at approximately $170,550. This trade represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

FTAI Infrastructure Stock Up 3.5%

Shares of FIP traded up $0.13 during mid-day trading on Tuesday, hitting $3.84. The company had a trading volume of 3,982,008 shares, compared to its average volume of 1,192,981. FTAI Infrastructure Inc. has a 1-year low of $2.23 and a 1-year high of $6.69. The business's 50-day simple moving average is $2.89 and its 200-day simple moving average is $4.43. The stock has a market cap of $453.81 million, a PE ratio of -0.76 and a beta of 1.82.

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

FTAI Infrastructure Dividend Announcement

The company 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 dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, November 23rd. FTAI Infrastructure's dividend payout ratio is presently -2.36%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FIP. JonesTrading reiterated a "buy" rating and issued a $8.75 target price on shares of FTAI Infrastructure in a report on Monday, September 28th. Weiss Ratings restated a "sell (e+)" rating on shares of FTAI Infrastructure in a research note on Wednesday, September 9th. Jefferies Financial Group set a $10.00 price objective on FTAI Infrastructure in a report on Tuesday, September 29th. Citizens Jmp began coverage on FTAI Infrastructure in a research note on Wednesday, July 15th. They issued a "market outperform" rating and a $10.00 price objective on the stock. Finally, UBS Group reiterated a "buy" rating on shares of FTAI Infrastructure in a report on Friday. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, FTAI Infrastructure presently has an average rating of "Moderate Buy" and an average price target of $9.75.

Hedge Funds Weigh In On FTAI Infrastructure

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in FTAI Infrastructure by 10.3% during the 2nd quarter. Wellington Management Group LLP now owns 13,490,351 shares of the company's stock worth $62,595,000 after purchasing an additional 1,259,468 shares during the period. CenterBook Partners LP increased its holdings 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. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in FTAI Infrastructure in the second quarter valued at about $8,591,000. Teachers Retirement System of The State of Kentucky raised its position 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. Finally, Lazard Asset Management LLC raised its position in FTAI Infrastructure by 38.0% in the first quarter. Lazard Asset Management LLC now owns 467,149 shares of the company's stock valued at $2,308,000 after purchasing an additional 128,598 shares during the period. Hedge funds and other institutional investors own 87.43% of the company's stock.

FTAI Infrastructure Company Profile

FTAI Infrastructure Inc. is an infrastructure company that owns and operates critical transportation and energy assets. Its portfolio is designed to support the movement, storage and processing of essential commodities and industrial products, with a focus on long-lived infrastructure that serves industrial and logistics customers. The company's businesses include Transtar, an industrial rail network serving manufacturing facilities, ports and other freight customers; Jefferson Terminal, a multimodal port and logistics facility on the U.S. Gulf Coast; and Long Ridge Energy Terminal, an energy infrastructure complex in Ohio that includes natural gas-fired power generation and related facilities.

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