FTAI Infrastructure (NASDAQ:FIP) CEO Kenneth Nicholson Acquires 400,000 Shares of Company Stock

FTAI Infrastructure Inc. (NASDAQ:FIP) CEO Kenneth Nicholson purchased 400,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were acquired at an average cost of $3.83 per share, for a total transaction of $1,532,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,575,539 shares of the company’s stock, valued at $9,864,314.37. This trade represents a 18.39% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

FTAI Infrastructure Price Performance

Shares of FTAI Infrastructure stock opened at $4.23 on Friday. FTAI Infrastructure Inc. has a 1 year low of $2.23 and a 1 year high of $6.69. The stock has a 50-day moving average price of $2.93 and a 200 day moving average price of $4.41.

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

FTAI Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 23rd will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $0.12 dividend on an annualized basis and a yield of 2.8%. FTAI Infrastructure’s payout ratio is presently -2.36%.

Institutional Investors Weigh In On FTAI Infrastructure

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in FTAI Infrastructure by 10.3% in the second 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 in the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in FTAI Infrastructure during the second quarter valued at about $8,591,000. CenterBook Partners LP raised its holdings in FTAI Infrastructure by 77.6% during the third quarter. CenterBook Partners LP now owns 3,485,831 shares of the company’s stock valued at $9,621,000 after buying an additional 1,522,854 shares in the last quarter. Fifth Third Bancorp bought a new position in FTAI Infrastructure during the first quarter valued at about $1,839,000. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of FTAI Infrastructure by 43.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 433,930 shares of the company’s stock worth $2,144,000 after buying an additional 131,521 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FIP. Wall Street Zen lowered FTAI Infrastructure from a “sell” rating to a “strong sell” rating in a report on Monday, July 20th. BTIG Research lowered their target price on FTAI Infrastructure from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FTAI Infrastructure in a research report on Wednesday, September 9th. UBS Group reaffirmed a “buy” rating on shares of FTAI Infrastructure in a research note on Friday, November 6th. Finally, Jefferies Financial Group set a $10.00 price target on FTAI Infrastructure in a report on Tuesday, September 29th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.75.

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.