20,750 Shares in Fortress Transprtn and Infr Investrs LLC (NYSE:FTAI) Purchased by Ironsides Asset Advisors LLC

Ironsides Asset Advisors LLC purchased a new position in Fortress Transprtn and Infr Investrs LLC (NYSE:FTAI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,750 shares of the financial services provider’s stock, valued at approximately $313,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Optimum Investment Advisors bought a new position in shares of Fortress Transprtn and Infr Investrs during the first quarter valued at approximately $34,000. Cutler Group LP increased its stake in shares of Fortress Transprtn and Infr Investrs by 885.3% during the first quarter. Cutler Group LP now owns 2,956 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 2,656 shares in the last quarter. AdvisorNet Financial Inc increased its stake in shares of Fortress Transprtn and Infr Investrs by 1,160.0% during the second quarter. AdvisorNet Financial Inc now owns 6,300 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 5,800 shares in the last quarter. Comerica Bank bought a new position in shares of Fortress Transprtn and Infr Investrs during the first quarter valued at approximately $315,000. Finally, Brasada Capital Management LP bought a new position in shares of Fortress Transprtn and Infr Investrs during the first quarter valued at approximately $320,000. 31.02% of the stock is owned by institutional investors.

Shares of NYSE:FTAI traded down $0.17 during trading on Thursday, reaching $14.56. 5,700 shares of the stock traded hands, compared to its average volume of 135,604. The firm’s 50-day moving average price is $15.15. Fortress Transprtn and Infr Investrs LLC has a 52-week low of $12.84 and a 52-week high of $18.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market capitalization of $1.22 billion, a PE ratio of 130.18 and a beta of 1.08.

Fortress Transprtn and Infr Investrs (NYSE:FTAI) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.10. Fortress Transprtn and Infr Investrs had a net margin of 3.74% and a return on equity of 1.78%. The firm had revenue of $159.00 million for the quarter, compared to analysts’ expectations of $138.74 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The business’s revenue for the quarter was up 120.9% on a year-over-year basis. Analysts predict that Fortress Transprtn and Infr Investrs LLC will post 0.55 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.07%. The ex-dividend date of this dividend is Thursday, August 15th. Fortress Transprtn and Infr Investrs’s payout ratio is 1,200.00%.

A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Fortress Transprtn and Infr Investrs from a “strong sell” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Monday, August 5th. ValuEngine cut shares of Fortress Transprtn and Infr Investrs from a “buy” rating to a “hold” rating in a report on Monday, June 3rd. Finally, TheStreet upgraded shares of Fortress Transprtn and Infr Investrs from a “c” rating to a “b” rating in a report on Friday, August 2nd.

Fortress Transprtn and Infr Investrs Company Profile

Fortress Transportation and Infrastructure Investors LLC owns and acquires infrastructure and related equipment for the transportation of goods and people in Africa, Asia, Europe, North America, and South America. It operates in six segments: Aviation Leasing, Offshore Energy, Shipping Containers, Jefferson Terminal, Railroad, and Ports and Terminals.

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Institutional Ownership by Quarter for Fortress Transprtn and Infr Investrs (NYSE:FTAI)

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