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Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) Sees Large Growth in Short Interest – MarketBeat


Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 6,290,000 shares, a growth of 24.3% from the October 31st total of 5,060,000 shares. Based on an average trading volume of 683,600 shares, the days-to-cover ratio is presently 9.2 days.

Several brokerages recently commented on FTAI. Barclays assumed coverage on Fortress Transportation and Infrastructure Investors in a research report on Monday, September 20th. They set an “overweight” rating and a $31.00 target price on the stock. Zacks Investment Research lowered Fortress Transportation and Infrastructure Investors from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 14th. Finally, BTIG Research restated a “buy” rating and issued a $39.00 target price on shares of Fortress Transportation and Infrastructure Investors in a report on Friday, October 29th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $32.33.

Shares of Fortress Transportation and Infrastructure Investors stock traded down $0.98 during trading hours on Friday, reaching $21.99. The company had a trading volume of 12,666 shares, compared to its average volume of 549,088. Fortress Transportation and Infrastructure Investors has a one year low of $20.40 and a one year high of $34.79. The business has a fifty day simple moving average of $25.43 and a 200 day simple moving average of $27.87. The firm has a market cap of $1.88 billion, a PE ratio of -11.72 and a beta of 1.87.

Fortress Transportation and Infrastructure Investors (NYSE:FTAI) last posted its quarterly earnings data on Thursday, October 28th. The financial services provider reported ($0.44) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.47). Fortress Transportation and Infrastructure Investors had a negative net margin of 39.63% and a negative return on equity of 10.11%. The business had revenue of $135.96 million for the quarter, compared to the consensus estimate of $136.31 million. During the same period in the prior year, the business posted ($0.25) EPS. Fortress Transportation and Infrastructure Investors’s quarterly revenue was up 62.4% on a year-over-year basis. As a group, equities research analysts predict that Fortress Transportation and Infrastructure Investors will post -0.92 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 29th. Investors of record on Monday, November 15th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 6.00%. Fortress Transportation and Infrastructure Investors’s dividend payout ratio is presently -67.35%.

In other news, Director Martin Tuchman purchased 100,000 shares of Fortress Transportation and Infrastructure Investors stock in a transaction that occurred on Tuesday, September 14th. The stock was acquired at an average cost of $25.50 per share, for a total transaction of $2,550,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Morgan Stanley grew its holdings in shares of Fortress Transportation and Infrastructure Investors by 63.3% during the 3rd quarter. Morgan Stanley now owns 6,971,046 shares of the financial services provider’s stock worth $176,925,000 after acquiring an additional 2,701,192 shares during the period. Cowen AND Company LLC lifted its position in Fortress Transportation and Infrastructure Investors by 3,397.6% in the 3rd quarter. Cowen AND Company LLC now owns 1,573,911 shares of the financial services provider’s stock valued at $39,946,000 after acquiring an additional 1,528,911 shares in the last quarter. Bank of America Corp DE raised its stake in Fortress Transportation and Infrastructure Investors by 51.2% during the 2nd quarter. Bank of America Corp DE now owns 3,931,144 shares of the financial services provider’s stock valued at $131,890,000 after buying an additional 1,330,637 shares during the last quarter. Hood River Capital Management LLC raised its stake in Fortress Transportation and Infrastructure Investors by 59.1% during the 2nd quarter. Hood River Capital Management LLC now owns 2,613,877 shares of the financial services provider’s stock valued at $87,696,000 after buying an additional 970,863 shares during the last quarter. Finally, Credit Suisse AG purchased a new stake in shares of Fortress Transportation and Infrastructure Investors in the 3rd quarter worth $20,063,000. Institutional investors own 68.14% of the company’s stock.

Fortress Transportation and Infrastructure Investors Company Profile

Fortress Transportation & Infrastructure Investors LLC engages in acquiring, managing and disposing of transportation and transportation-related infrastructure and equipment assets. It operates through the following segments: Aviation Leasing, Jefferson Terminal, and Ports and Terminals. The Aviation Leasing segment consists of aircraft and aircraft engines held for lease and are typically held long-term.

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