FTAI Infrastructure (NASDAQ:FIP) Stock: Insider Kenneth Nicholson Purchases 400,000 Shares

FTAI Infrastructure Inc. (NASDAQ:FIP) CEO Kenneth Nicholson bought 400,000 shares of the stock in a transaction dated Tuesday, November 10th. The shares were bought at an average price of $3.83 per share, for a total transaction of $1,532,000.00. Following the completion of the acquisition, the chief executive officer owned 2,575,539 shares in the company, valued at approximately $9,864,314.37. The trade was a 18.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

FTAI Infrastructure Price Performance

FIP stock opened at $3.93 on Friday. The business has a 50 day simple moving average of $2.94 and a 200-day simple moving average of $4.40. The firm has a market capitalization of $464.45 million, a PE ratio of -0.77 and a beta of 1.82. FTAI Infrastructure Inc. has a 1 year low of $2.23 and a 1 year high of $6.69.

FTAI Infrastructure (NASDAQ:FIP) last announced 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 company had revenue of $218.97 million during the quarter, compared to analysts’ expectations of $195.03 million.

FTAI Infrastructure Announces Dividend

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 paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.1%. FTAI Infrastructure’s dividend payout ratio (DPR) is -2.36%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FIP. UBS Group reiterated a “buy” rating on shares of FTAI Infrastructure in a report on Friday, November 6th. Citigroup reissued a “market outperform” rating on shares of FTAI Infrastructure in a research report on Tuesday, September 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of FTAI Infrastructure in a report on Wednesday, September 9th. Wall Street Zen upgraded shares of FTAI Infrastructure from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, Jefferies Financial Group set a $10.00 price objective on shares of FTAI Infrastructure in a research report on Tuesday, September 29th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, FTAI Infrastructure has a consensus rating of “Moderate Buy” and an average target price of $9.75.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new stake in FTAI Infrastructure during the third quarter worth $3,476,000. 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. CenterBook Partners LP lifted its stake in shares of 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 during the last quarter. WINTON GROUP Ltd acquired a new position in shares of FTAI Infrastructure in the 2nd quarter valued at $65,000. Finally, Connective Capital Management LLC acquired a new position in shares of FTAI Infrastructure in the 2nd quarter valued at $167,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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.