Diamond Hill Capital Management LLC Investment Advisor Purchases Shares of 1,851,613 FTAI Infrastructure Inc. $FIP

Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of FTAI Infrastructure Inc. (NASDAQ:FIP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,851,613 shares of the company’s stock, valued at approximately $8,591,000.

Other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its position in shares of FTAI Infrastructure by 6,941.7% in the 4th quarter. Larson Financial Group LLC now owns 8,098 shares of the company’s stock worth $37,000 after buying an additional 7,983 shares during the period. Lazard Asset Management LLC purchased a new stake in FTAI Infrastructure during the second quarter valued at about $55,000. Russell Investments Group Ltd. grew its position in FTAI Infrastructure by 12,129.3% during the third quarter. Russell Investments Group Ltd. now owns 9,172 shares of the company’s stock valued at $40,000 after acquiring an additional 9,097 shares during the period. Xponance LLC acquired a new stake in FTAI Infrastructure during the fourth quarter worth about $47,000. Finally, Brown Advisory Inc. acquired a new stake in FTAI Infrastructure during the second quarter worth about $63,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at FTAI Infrastructure

In related news, CFO Carl Russell Iv Fletcher bought 10,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was bought at an average cost of $4.58 per share, for a total transaction of $45,800.00. Following the completion of the purchase, the chief financial officer directly owned 40,000 shares in the company, valued at approximately $183,200. The trade was a 33.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JonesTrading began coverage on shares of FTAI Infrastructure in a report on Wednesday, July 1st. They issued a “buy” rating and a $8.75 price target on the stock. Citizens Jmp initiated coverage on shares of FTAI Infrastructure in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $10.00 target price on the stock. BTIG Research reduced their target price on shares of FTAI Infrastructure from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Compass Point set a $12.00 price target on shares of FTAI Infrastructure in a research report on Tuesday, June 30th. Finally, Wall Street Zen downgraded FTAI Infrastructure from a “sell” rating to a “strong sell” rating in a report on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.94.

FTAI Infrastructure Stock Down 5.8%

FIP stock opened at $4.25 on Tuesday. FTAI Infrastructure Inc. has a 52-week low of $3.06 and a 52-week high of $6.69. The stock’s 50 day moving average is $4.39 and its two-hundred day moving average is $5.00. The company has a market capitalization of $502.26 million, a PE ratio of -0.82 and a beta of 1.81.

FTAI Infrastructure (NASDAQ:FIP) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.81). FTAI Infrastructure had a negative net margin of 74.10% and a negative return on equity of 147.01%. The company had revenue of $186.77 million during the quarter, compared to analyst estimates of $186.08 million.

FTAI Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.12 annualized dividend and a dividend yield of 2.8%. FTAI Infrastructure’s payout ratio is -2.31%.

FTAI Infrastructure Company Profile

FTAI Infrastructure Ltd (NASDAQ: FIP) is a closed-end investment company that acquires and manages infrastructure assets offering stable, long-term cash flows. The company targets core and core-plus infrastructure sectors with contracted or regulated revenue streams, aiming to deliver attractive risk-adjusted returns for its shareholders. FTAI Infrastructure’s portfolio is diversified across multiple sub-sectors, geographies and counterparties to manage risk and capture growth opportunities in global infrastructure markets.

The company focuses on three primary investment categories: communications infrastructure, transport and logistics infrastructure, and utility infrastructure.