FTAI Infrastructure Inc. (NASDAQ:FIP) Sees Significant Growth in Short Interest

FTAI Infrastructure Inc. (NASDAQ:FIP) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 12,530,000 shares, a growth of 26.1% from the February 13th total of 9,940,000 shares. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is presently 11.2 days. Currently, 11.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On FTAI Infrastructure

A number of hedge funds and other institutional investors have recently bought and sold shares of FIP. Hood River Capital Management LLC boosted its stake in FTAI Infrastructure by 32.7% in the fourth quarter. Hood River Capital Management LLC now owns 5,891,840 shares of the company’s stock valued at $42,775,000 after acquiring an additional 1,452,567 shares during the last quarter. Highland Peak Capital LLC boosted its stake in FTAI Infrastructure by 194.3% in the third quarter. Highland Peak Capital LLC now owns 1,755,349 shares of the company’s stock valued at $16,430,000 after acquiring an additional 1,158,816 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in FTAI Infrastructure in the fourth quarter valued at approximately $5,938,000. Capital International Investors boosted its stake in FTAI Infrastructure by 17.0% in the fourth quarter. Capital International Investors now owns 5,345,350 shares of the company’s stock valued at $38,807,000 after acquiring an additional 778,376 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in FTAI Infrastructure by 12.6% in the fourth quarter. Vanguard Group Inc. now owns 6,537,542 shares of the company’s stock valued at $47,463,000 after acquiring an additional 730,895 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

FTAI Infrastructure Price Performance

Shares of FIP traded down $0.15 during mid-day trading on Tuesday, hitting $5.12. 942,366 shares of the company traded hands, compared to its average volume of 1,167,271. FTAI Infrastructure has a one year low of $4.73 and a one year high of $10.46. 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 business has a 50-day moving average of $6.49 and a 200 day moving average of $7.86. The stock has a market capitalization of $582.37 million, a price-to-earnings ratio of -2.59 and a beta of 1.52.

FTAI Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.12 annualized dividend and a dividend yield of 2.34%. FTAI Infrastructure’s dividend payout ratio (DPR) is currently -4.36%.

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.