FTAI Infrastructure (NASDAQ:FIP) Shares Down 6.4% – What’s Next?

FTAI Infrastructure Inc. (NASDAQ:FIP)’s share price was down 6.4% on Tuesday . The stock traded as low as $7.01 and last traded at $6.97. Approximately 333,575 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 938,557 shares. The stock had previously closed at $7.44.

FTAI Infrastructure Stock Down 9.7 %

The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 6.07. The firm has a 50 day moving average price of $8.01 and a 200-day moving average price of $8.80. The firm has a market cap of $763.95 million, a price-to-earnings ratio of -3.40 and a beta of 1.45.

FTAI Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th were given a $0.03 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.12 annualized dividend and a dividend yield of 1.79%. FTAI Infrastructure’s dividend payout ratio is presently -6.06%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FIP. Dimensional Fund Advisors LP increased its position in 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 buying an additional 449,481 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of FTAI Infrastructure by 10.1% during the second quarter. Renaissance Technologies LLC now owns 563,200 shares of the company’s stock valued at $4,860,000 after acquiring an additional 51,800 shares during the last quarter. Hood River Capital Management LLC increased its position in FTAI Infrastructure by 26.5% during the 2nd 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. The Manufacturers Life Insurance Company increased its position 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 worth $336,000 after purchasing an additional 3,158 shares in the last quarter. Finally, Luxor Capital Group LP raised its stake in FTAI Infrastructure by 8.0% in the 2nd quarter. Luxor Capital Group LP now owns 5,681,893 shares of the company’s stock valued at $49,035,000 after purchasing an additional 420,019 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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.