Bank of America Corp DE Purchases 15,370 Shares of Fortress Transprtn and Infr Investrs LLC (FTAI)

Bank of America Corp DE boosted its position in Fortress Transprtn and Infr Investrs LLC (NYSE:FTAI) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 679,299 shares of the financial services provider’s stock after acquiring an additional 15,370 shares during the period. Bank of America Corp DE owned 0.82% of Fortress Transprtn and Infr Investrs worth $12,275,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of FTAI. Russell Investments Group Ltd. boosted its holdings in Fortress Transprtn and Infr Investrs by 30.4% during the second quarter. Russell Investments Group Ltd. now owns 1,073,485 shares of the financial services provider’s stock worth $19,393,000 after buying an additional 250,298 shares during the last quarter. BlackRock Inc. boosted its holdings in Fortress Transprtn and Infr Investrs by 1,940.6% during the first quarter. BlackRock Inc. now owns 39,485 shares of the financial services provider’s stock worth $630,000 after buying an additional 37,550 shares during the last quarter. Luzich Partners LLC boosted its holdings in Fortress Transprtn and Infr Investrs by 7.1% during the second quarter. Luzich Partners LLC now owns 600,000 shares of the financial services provider’s stock worth $10,842,000 after buying an additional 39,528 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in Fortress Transprtn and Infr Investrs by 10.9% during the second quarter. Gamco Investors INC. ET AL now owns 72,250 shares of the financial services provider’s stock worth $1,306,000 after buying an additional 7,078 shares during the last quarter. Finally, Whittier Trust Co. boosted its holdings in Fortress Transprtn and Infr Investrs by 2.8% during the second quarter. Whittier Trust Co. now owns 116,396 shares of the financial services provider’s stock worth $2,102,000 after buying an additional 3,181 shares during the last quarter. Institutional investors and hedge funds own 32.93% of the company’s stock.

FTAI has been the topic of a number of recent analyst reports. TheStreet upgraded Fortress Transprtn and Infr Investrs from a “c+” rating to a “b” rating in a report on Friday, August 3rd. Zacks Investment Research upgraded Fortress Transprtn and Infr Investrs from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Monday, July 9th. Finally, ValuEngine upgraded Fortress Transprtn and Infr Investrs from a “hold” rating to a “buy” rating in a report on Saturday, June 16th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $21.33.

NYSE FTAI opened at $17.90 on Friday. The stock has a market cap of $1.51 billion, a PE ratio of 149.17 and a beta of 1.50. Fortress Transprtn and Infr Investrs LLC has a one year low of $15.45 and a one year high of $20.13.

Fortress Transprtn and Infr Investrs (NYSE:FTAI) last released its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.08). The business had revenue of $71.98 million for the quarter, compared to analyst estimates of $76.57 million. Fortress Transprtn and Infr Investrs had a return on equity of 1.33% and a net margin of 2.39%. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 EPS. Research analysts forecast that Fortress Transprtn and Infr Investrs LLC will post 0.32 EPS for the current year.

About Fortress Transprtn and Infr Investrs

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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