FTAI Infrastructure (NASDAQ:FIP) Trading Up 3.8% – Here’s What Happened

FTAI Infrastructure Inc. (NASDAQ:FIP) shares shot up 3.8% on Thursday . The stock traded as high as $7.89 and last traded at $7.73. 61,597 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 944,279 shares. The stock had previously closed at $7.45.

FTAI Infrastructure Trading Down 4.1 %

The firm’s 50-day moving average price is $8.06 and its 200-day moving average price is $8.82. The company has a market cap of $846.30 million, a P/E ratio of -3.76 and a beta of 1.45. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 6.07.

FTAI Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, November 12th. FTAI Infrastructure’s payout ratio is currently -6.06%.

Institutional Investors Weigh In On FTAI Infrastructure

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its position in shares of FTAI Infrastructure by 17.1% in the second quarter. Rhumbline Advisers now owns 154,509 shares of the company’s stock valued at $1,333,000 after acquiring an additional 22,569 shares during the period. Choreo LLC purchased a new position in shares of FTAI Infrastructure during the 2nd quarter valued at $100,000. Dimensional Fund Advisors LP increased its holdings in shares of FTAI Infrastructure by 44.0% in 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 during the period. Renaissance Technologies LLC raised its position in shares of FTAI Infrastructure by 10.1% in the second quarter. Renaissance Technologies LLC now owns 563,200 shares of the company’s stock worth $4,860,000 after buying an additional 51,800 shares in the last quarter. Finally, First Eagle Investment Management LLC bought a new stake in FTAI Infrastructure during the second quarter valued at $2,766,000. 87.43% of the stock is currently owned by institutional investors.

FTAI Infrastructure Company Profile

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.