FTAI Infrastructure (NASDAQ:FIP) Stock Price Down 6.7% – Here’s Why

FTAI Infrastructure Inc. (NASDAQ:FIP)’s share price traded down 6.7% during trading on Friday . The stock traded as low as $7.85 and last traded at $7.85. 52,552 shares were traded during trading, a decline of 93% from the average session volume of 802,257 shares. The stock had previously closed at $8.41.

FTAI Infrastructure Price Performance

The company has a debt-to-equity ratio of 6.07, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a 50-day simple moving average of $8.17 and a 200 day simple moving average of $8.85. The firm has a market cap of $900.90 million, a PE ratio of -4.00 and a beta of 1.34.

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 given a $0.03 dividend. The ex-dividend date 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 currently -6.06%.

Institutional Investors Weigh In On FTAI Infrastructure

A number of institutional investors have recently modified their holdings of the stock. Luxor Capital Group LP boosted its stake in FTAI Infrastructure by 4.6% in the 3rd quarter. Luxor Capital Group LP now owns 5,940,484 shares of the company’s stock worth $55,603,000 after purchasing an additional 258,591 shares in the last quarter. Hood River Capital Management LLC grew its holdings 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 valued at $25,520,000 after buying an additional 618,625 shares during the last quarter. State Street Corp raised its holdings in FTAI Infrastructure by 2.2% in the 3rd quarter. State Street Corp now owns 2,543,305 shares of the company’s stock worth $23,805,000 after acquiring an additional 55,936 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of FTAI Infrastructure by 2.2% in the third quarter. Geode Capital Management LLC now owns 2,427,301 shares of the company’s stock worth $22,724,000 after purchasing an additional 53,340 shares during the last quarter. Finally, Highland Peak Capital LLC boosted its stake in shares of FTAI Infrastructure by 194.3% in the 3rd quarter. Highland Peak Capital LLC now owns 1,755,349 shares of the company’s stock worth $16,430,000 after buying an additional 1,158,816 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

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.