MYDA Advisors LLC Sells 122,000 Shares of FTAI Infrastructure Inc. $FIP

MYDA Advisors LLC decreased its holdings in shares of FTAI Infrastructure Inc. (NASDAQ:FIP) by 41.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 173,000 shares of the company’s stock after selling 122,000 shares during the quarter. MYDA Advisors LLC owned about 0.15% of FTAI Infrastructure worth $798,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FIP. Envestnet Asset Management Inc. bought a new stake in FTAI Infrastructure during the 2nd quarter valued at approximately $170,000. Rhumbline Advisers lifted its position in shares of FTAI Infrastructure by 26.7% in the 2nd quarter. Rhumbline Advisers now owns 190,560 shares of the company’s stock worth $1,176,000 after acquiring an additional 40,206 shares during the period. Prudential Financial Inc. bought a new stake in shares of FTAI Infrastructure in the 2nd quarter worth approximately $81,000. Invesco Ltd. lifted its position in shares of FTAI Infrastructure by 198.6% in the 2nd quarter. Invesco Ltd. now owns 483,930 shares of the company’s stock worth $2,986,000 after acquiring an additional 321,873 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of FTAI Infrastructure by 422.3% in the 2nd quarter. Marshall Wace LLP now owns 529,502 shares of the company’s stock worth $3,267,000 after acquiring an additional 428,116 shares during the period. Institutional investors own 87.43% of the company’s stock.

FTAI Infrastructure Price Performance

Shares of FIP stock opened at $4.82 on Monday. The stock has a 50 day moving average of $5.00 and a two-hundred day moving average of $5.21. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 110.28. FTAI Infrastructure Inc. has a 12 month low of $3.90 and a 12 month high of $7.93. The company has a market capitalization of $569.53 million, a P/E ratio of -1.07 and a beta of 1.79.

FTAI Infrastructure (NASDAQ:FIP) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.90). FTAI Infrastructure had a negative return on equity of 147.01% and a negative net margin of 68.58%.The firm had revenue of $188.36 million during the quarter, compared to the consensus estimate of $182.41 million. The company’s quarterly revenue was up 95.8% on a year-over-year basis.

FTAI Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, May 18th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, May 18th. FTAI Infrastructure’s dividend payout ratio (DPR) is -2.66%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FIP. BTIG Research reduced their price objective on FTAI Infrastructure from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Wall Street Zen downgraded FTAI Infrastructure from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.00.

Insider Activity at FTAI Infrastructure

In related news, CFO Carl Russell Iv Fletcher bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was acquired at an average price of $4.58 per share, for a total transaction of $45,800.00. Following the transaction, the chief financial officer directly owned 40,000 shares of the company’s stock, valued at $183,200. This represents a 33.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.17% of the stock is owned by company insiders.

FTAI Infrastructure 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.