FTAI Infrastructure (NASDAQ:FIP) Stock: Insider Carl Russell Iv Fletcher Buys 5,000 Shares

FTAI Infrastructure Inc. (NASDAQ:FIP) CFO Carl Russell Iv Fletcher purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, November 10th. The stock was bought at an average cost of $3.79 per share, with a total value of $18,950.00. Following the completion of the acquisition, the chief financial officer directly owned 45,000 shares of the company’s stock, valued at approximately $170,550. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

FTAI Infrastructure Trading Up 14.1%

Shares of NASDAQ FIP opened at $4.38 on Thursday. FTAI Infrastructure Inc. has a fifty-two week low of $2.23 and a fifty-two week high of $6.69. The stock has a fifty day moving average of $2.91 and a 200-day moving average of $4.42.

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

FTAI Infrastructure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Shareholders 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 yield of 2.7%. The ex-dividend date of this dividend is Monday, November 23rd. FTAI Infrastructure’s payout ratio is presently -2.36%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FIP shares. Citigroup reissued a “market outperform” rating on shares of FTAI Infrastructure in a report on Tuesday, September 29th. Jefferies Financial Group set a $10.00 price objective on shares of FTAI Infrastructure in a research note on Tuesday, September 29th. Wall Street Zen lowered shares of FTAI Infrastructure from a “sell” rating to a “strong sell” rating in a report on Monday, July 20th. BTIG Research decreased their target price on shares of FTAI Infrastructure from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, November 6th. Finally, UBS Group reiterated a “buy” rating on shares of FTAI Infrastructure in a research note on Friday, November 6th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.75.

Hedge Funds Weigh In On FTAI Infrastructure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FIP. Teachers Retirement System of The State of Kentucky raised its holdings in shares of FTAI Infrastructure by 12.4% in the 3rd 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 acquiring an additional 58,979 shares in the last quarter. CenterBook Partners LP grew its holdings in shares of FTAI Infrastructure by 77.6% during the third quarter. CenterBook Partners LP now owns 3,485,831 shares of the company’s stock worth $9,621,000 after purchasing an additional 1,522,854 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of FTAI Infrastructure during the second quarter worth about $65,000. Connective Capital Management LLC purchased a new position in shares of FTAI Infrastructure during the second quarter worth about $167,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of FTAI Infrastructure in the second quarter worth approximately $75,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

About FTAI Infrastructure

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.