Should You Hold FTAI Infrastructure (FIP) for the Long-Term?

Tourlite Capital Management, an investment management firm, released its second quarter 2023 investor letter, a copy of which can be downloaded here. Tourlite Fund, LP Founder Class gained -1.2% for Q2 2023 and -0.2% year to date. Since its inception in April 2022, the fund returned 4.9% compared to 0.3% and -7.1% for the S&P 500 and the Russell 2000, respectively. The portfolio is mainly concentrated on industrials, consumer, and technology sectors. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Tourlite Capital Management highlighted stocks like FTAI Infrastructure Inc. (NASDAQ:FIP) in the second quarter 2023 investor letter. Headquartered in New York, New York, FTAI Infrastructure Inc. (NASDAQ:FIP) offers infrastructure and equipment for transportation. On September 28, 2023, FTAI Infrastructure Inc. (NASDAQ:FIP) stock closed at $3.2300 per share. One-month return of FTAI Infrastructure Inc. (NASDAQ:FIP) was -6.38%, and its shares gained 34.58% of their value over the last 52 weeks. FTAI Infrastructure Inc. (NASDAQ:FIP) has a market capitalization of $321.29 million.

Tourlite Capital Management made the following comment about FTAI Infrastructure Inc. (NASDAQ:FIP) in its Q2 2023 investor letter:

“Recent developments indicate that FTAI Infrastructure Inc. (NASDAQ:FIP)’s portfolio of assets is experiencing an inflection point. The new 10-year Exxon contract has transformed Jefferson Terminal into a highly cash flow generative asset. By 2025, we anticipate Transtar and Jefferson together could generate over $120 million in cash flow. Value realization lies in management’s ability to restructure the capital structure though debt refinancing and preferred equity redemption. While investors may be primarily focused on FTAI Aviation, we see an overlooked opportunity for investors in FIP.”

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FTAI Infrastructure Inc. (NASDAQ:FIP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held FTAI Infrastructure Inc. (NASDAQ:FIP) at the end of second quarter which was 19 in the previous quarter.

We discussed FTAI Infrastructure Inc. (NASDAQ:FIP) in another article and shared the list of best new penny stocks to buy. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.