Fortitude Advisory Group L.L.C. Acquires New Position in FTAI Infrastructure Inc. (NASDAQ:FIP)

Fortitude Advisory Group L.L.C. bought a new position in shares of FTAI Infrastructure Inc. (NASDAQ:FIP) during the first quarter, HoldingsChannel.com reports. The firm bought 25,000 shares of the company’s stock, valued at approximately $113,000.

Several other institutional investors have also modified their holdings of FIP. Vanguard Group Inc. boosted its holdings in FTAI Infrastructure by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,537,542 shares of the company’s stock valued at $47,463,000 after purchasing an additional 730,895 shares during the period. Hood River Capital Management LLC boosted its stake in shares of 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 buying an additional 1,452,567 shares during the period. Capital International Investors grew its position in shares of FTAI Infrastructure by 17.0% during the fourth 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 in the last quarter. Geode Capital Management LLC increased its stake in shares of FTAI Infrastructure by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 2,499,861 shares of the company’s stock worth $18,153,000 after buying an additional 72,560 shares during the period. Finally, Balyasny Asset Management L.P. raised its holdings in FTAI Infrastructure by 49.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,081,888 shares of the company’s stock valued at $15,115,000 after acquiring an additional 687,413 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

FTAI Infrastructure Stock Up 5.0%

Shares of NASDAQ FIP opened at $6.73 on Tuesday. The business has a 50-day moving average of $4.93 and a two-hundred day moving average of $5.95. The company has a market capitalization of $772.34 million, a price-to-earnings ratio of -3.40 and a beta of 1.95. FTAI Infrastructure Inc. has a 1 year low of $3.10 and a 1 year high of $10.46. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.42 and a quick ratio of 1.42.

FTAI Infrastructure (NASDAQ:FIP) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $1.23. FTAI Infrastructure had a negative return on equity of 46.25% and a negative net margin of 44.32%. The firm had revenue of $96.16 million during 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 paid a dividend of $0.03 per share. The ex-dividend date was Monday, May 19th. This represents a $0.12 annualized dividend and a yield of 1.78%. FTAI Infrastructure’s dividend payout ratio is currently -9.09%.

Analyst Upgrades and Downgrades

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

FTAI Infrastructure Company Profile

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.