Trading Report: The ING Groep NV reached $275,000 position of Fortress Transportation and Infrastructure Investors LLC (FTAI)

The ING Groep NV reached $275,000 position  of Fortress Transportation and Infrastructure Investors LLC (FTAI)

ING Groep NV reduced its position in Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) by 50.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,892 shares of the company’s stock after selling 29,892 shares during the period. ING Groep NV’s holdings in Fortress Transportation and Infrastructure Investors were worth $275,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FTAI. Bank of Montreal Can purchased a new position in shares of Fortress Transportation and Infrastructure Investors during the second quarter worth about $110,000. Joel Isaacson & Co. LLC bought a new position in Fortress Transportation and Infrastructure Investors during the second quarter worth about $340,000. JNBA Financial Advisors increased its position in Fortress Transportation and Infrastructure Investors by 1.1% in the second quarter. JNBA Financial Advisors now owns 17,080 shares of the company’s stock worth $157,000 after buying an additional 183 shares during the last quarter. Telemus Capital LLC increased its position in Fortress Transportation and Infrastructure Investors by 141.7% in the second quarter. Telemus Capital LLC now owns 411,664 shares of the company’s stock worth $3,783,000 after buying an additional 241,353 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Fortress Transportation and Infrastructure Investors by 25.3% in the first quarter. Royal Bank of Canada now owns 10,400 shares of the company’s stock worth $103,000 after buying an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 24.69% of the company’s stock.

Shares of Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) remained flat at $12.01 during mid-day trading on Thursday. 52,507 shares of the company’s stock were exchanged. The stock’s market cap is $909.76 million. The firm’s 50 day moving average is $11.96 and its 200-day moving average is $10.75. Fortress Transportation and Infrastructure Investors LLC has a one year low of $8.65 and a one year high of $14.84.

Fortress Transportation and Infrastructure Investors (NYSE:FTAI) last issued its earnings results on Tuesday, August 2nd. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by $0.05. Fortress Transportation and Infrastructure Investors had a negative return on equity of 1.17% and a negative net margin of 24.99%. The firm earned $33.20 million during the quarter, compared to the consensus estimate of $36.83 million. During the same quarter in the prior year, the business posted $0.02 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities research analysts predict that Fortress Transportation and Infrastructure Investors LLC will post ($0.20) earnings per share for the current fiscal year.

A number of research firms recently issued reports on FTAI. JMP Securities reiterated a “buy” rating on shares of Fortress Transportation and Infrastructure Investors in a research report on Tuesday. Zacks Investment Research upgraded shares of Fortress Transportation and Infrastructure Investors from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 5th. Citigroup Inc. boosted their target price on shares of Fortress Transportation and Infrastructure Investors from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Finally, TheStreet upgraded shares of Fortress Transportation and Infrastructure Investors from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.60.

In other Fortress Transportation and Infrastructure Investors news, Director Paul R. Goodwin purchased 18,000 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was bought at an average price of $11.85 per share, with a total value of $213,300.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph P. Jr. Adams purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was acquired at an average cost of $11.95 per share, with a total value of $119,500.00. Following the purchase, the chief executive officer now directly owns 154,828 shares of the company’s stock, valued at $1,850,194.60. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by insiders.

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