Short Interest in FTAI Infrastructure Inc. (NASDAQ:FIP) Rises By 13.6%

by · The Cerbat Gem

FTAI Infrastructure Inc. (NASDAQ:FIP – Get Free Report) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 7,790,000 shares, an increase of 13.6% from the September 15th total of 6,860,000 shares. Based on an average daily trading volume, of 1,470,000 shares, the days-to-cover ratio is presently 5.3 days. Currently, 7.6% of the company’s shares are short sold.

Insider Transactions at FTAI Infrastructure

In other news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of FTAI Infrastructure stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $9.04, for a total transaction of $30,731,489.04. Following the completion of the sale, the insider now directly owns 8,418,561 shares in the company, valued at $76,103,791.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FIP. Hood River Capital Management LLC lifted its position in shares of FTAI Infrastructure by 26.5% during the second quarter. Hood River Capital Management LLC now owns 2,957,163 shares of the company’s stock worth $25,520,000 after purchasing an additional 618,625 shares in the last quarter. Highland Peak Capital LLC acquired a new position in shares of FTAI Infrastructure during the second quarter worth $5,148,000. Dimensional Fund Advisors LP lifted its position in shares of FTAI Infrastructure by 44.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,470,225 shares of the company’s stock worth $12,688,000 after purchasing an additional 449,481 shares in the last quarter. Luxor Capital Group LP raised its holdings in FTAI Infrastructure by 8.0% in the second quarter. Luxor Capital Group LP now owns 5,681,893 shares of the company’s stock valued at $49,035,000 after acquiring an additional 420,019 shares in the last quarter. Finally, First Eagle Investment Management LLC acquired a new stake in FTAI Infrastructure in the second quarter valued at $2,766,000. 87.43% of the stock is owned by institutional investors and hedge funds.

FTAI Infrastructure Trading Up 0.6 %

Shares of FIP stock opened at $9.47 on Thursday. The stock has a market cap of $963.04 million, a price-to-earnings ratio of -4.88 and a beta of 1.28. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 5.42. FTAI Infrastructure has a fifty-two week low of $3.01 and a fifty-two week high of $10.45. The firm’s 50 day moving average price is $9.16 and its two-hundred day moving average price is $8.56.

FTAI Infrastructure (NASDAQ:FIP – Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.17). The business had revenue of $84.89 million for the quarter. FTAI Infrastructure had a negative net margin of 49.85% and a negative return on equity of 44.09%.

FTAI Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, August 12th were given a dividend of $0.03 per share. The ex-dividend date was Monday, August 12th. This represents a $0.12 dividend on an annualized basis and a yield of 1.27%. FTAI Infrastructure’s dividend payout ratio (DPR) is -6.19%.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market outperform” rating and issued a $12.00 target price on shares of FTAI Infrastructure in a report on Monday, August 5th.

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FTAI Infrastructure Company Profile

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FTAI Infrastructure Inc focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.

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