Highland Peak Capital LLC Takes Position in FTAI Infrastructure Inc. (NASDAQ:FIP)

Highland Peak Capital LLC bought a new position in shares of FTAI Infrastructure Inc. (NASDAQ:FIP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 596,533 shares of the company’s stock, valued at approximately $5,148,000. FTAI Infrastructure makes up approximately 1.8% of Highland Peak Capital LLC’s investment portfolio, making the stock its 9th largest holding. Highland Peak Capital LLC owned 0.59% of FTAI Infrastructure at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in FTAI Infrastructure during the first quarter valued at approximately $848,000. Inscription Capital LLC bought a new stake in shares of FTAI Infrastructure during the 1st quarter worth $1,103,000. Orchard Capital Management LLC grew its holdings in shares of FTAI Infrastructure by 7.1% in the 4th quarter. Orchard Capital Management LLC now owns 2,471,786 shares of the company’s stock worth $9,615,000 after acquiring an additional 164,023 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of FTAI Infrastructure by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 794,868 shares of the company’s stock worth $6,860,000 after acquiring an additional 65,218 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of FTAI Infrastructure by 22.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,483 shares of the company’s stock worth $179,000 after purchasing an additional 5,244 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $12.00 price objective on shares of FTAI Infrastructure in a research note on Monday, August 5th. BTIG Research raised their price objective on shares of FTAI Infrastructure from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th.

FTAI Infrastructure Stock Performance

Shares of NASDAQ FIP opened at $9.35 on Tuesday. The business’s 50-day simple moving average is $9.33 and its 200-day simple moving average is $8.03. The company has a debt-to-equity ratio of 5.42, a quick ratio of 2.10 and a current ratio of 2.10. FTAI Infrastructure Inc. has a 52 week low of $2.84 and a 52 week high of $10.45. The firm has a market cap of $950.84 million, a price-to-earnings ratio of -4.82 and a beta of 1.29.

FTAI Infrastructure (NASDAQ:FIP) last issued its quarterly earnings results on Friday, August 2nd. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.17). The business had revenue of $84.89 million during 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 disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 12th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Monday, August 12th. FTAI Infrastructure’s dividend payout ratio is -6.19%.

Insider Transactions at FTAI Infrastructure

In other FTAI Infrastructure news, major shareholder Fig Buyer Gp, Llc sold 3,399,501 shares of FTAI Infrastructure stock in a transaction on Friday, August 9th. The stock was sold at an average price of $9.04, for a total transaction of $30,731,489.04. Following the completion of the transaction, the insider now directly owns 8,418,561 shares of the company’s stock, valued at $76,103,791.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.17% of the stock is owned by insiders.

About FTAI Infrastructure

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.