FTAI Infrastructure (NASDAQ:FIP) Shares Up 5.8% – Should You Buy?

FTAI Infrastructure Inc. (NASDAQ:FIP) shares traded up 5.8% during mid-day trading on Wednesday . The company traded as high as $8.22 and last traded at $8.04. 263,390 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 621,169 shares. The stock had previously closed at $7.60.

FTAI Infrastructure Price Performance

The stock’s fifty day moving average price is $8.17 and its 200-day moving average price is $8.85. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $900.90 million, a PE ratio of -4.00 and a beta of 1.34.

FTAI Infrastructure Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.52%. FTAI Infrastructure’s dividend payout ratio is presently -6.06%.

Hedge Funds Weigh In On FTAI Infrastructure

A number of large investors have recently made changes to their positions in the stock. Biltmore Family Office LLC increased its holdings in FTAI Infrastructure by 0.8% during the 3rd quarter. Biltmore Family Office LLC now owns 230,031 shares of the company’s stock valued at $2,153,000 after acquiring an additional 1,826 shares in the last quarter. SG Americas Securities LLC increased its holdings in FTAI Infrastructure by 9.8% during the 3rd quarter. SG Americas Securities LLC now owns 29,654 shares of the company’s stock valued at $278,000 after acquiring an additional 2,640 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in FTAI Infrastructure by 8.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,989 shares of the company’s stock valued at $336,000 after acquiring an additional 3,158 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in FTAI Infrastructure during the 3rd quarter valued at about $34,000. Finally, US Bancorp DE purchased a new position in FTAI Infrastructure during the 3rd quarter valued at about $52,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

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.