Sheets Smith Wealth Management bought a new position in shares of Macquarie Infrastructure Corp (NYSE:MIC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,080 shares of the conglomerate’s stock, valued at approximately $262,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Macquarie Infrastructure in the second quarter valued at about $206,000. BlueCrest Capital Management Ltd acquired a new stake in Macquarie Infrastructure in the second quarter valued at about $233,000. FNY Partners Fund LP lifted its position in Macquarie Infrastructure by 200.0% in the third quarter. FNY Partners Fund LP now owns 3,000 shares of the conglomerate’s stock valued at $216,000 after purchasing an additional 2,000 shares during the period. Toronto Dominion Bank lifted its position in Macquarie Infrastructure by 3.6% in the second quarter. Toronto Dominion Bank now owns 3,056 shares of the conglomerate’s stock valued at $240,000 after purchasing an additional 107 shares during the period. Finally, Sigma Planning Corp acquired a new stake in Macquarie Infrastructure in the third quarter valued at about $221,000. Institutional investors and hedge funds own 75.72% of the company’s stock.
In other Macquarie Infrastructure news, Director Norman H. Brown, Jr. sold 1,732 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $65.87, for a total value of $114,086.84. Following the completion of the transaction, the director now directly owns 49,076 shares of the company’s stock, valued at $3,232,636.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Norman H. Brown, Jr. sold 2,151 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $66.07, for a total transaction of $142,116.57. Following the completion of the transaction, the director now directly owns 46,925 shares of the company’s stock, valued at $3,100,334.75. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.
Macquarie Infrastructure Corp (NYSE:MIC) opened at $64.99 on Friday. Macquarie Infrastructure Corp has a 1-year low of $63.08 and a 1-year high of $83.48. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.07 and a quick ratio of 0.93. The stock has a market cap of $5,495.81, a PE ratio of 30.51 and a beta of 0.87.
A number of brokerages recently commented on MIC. Zacks Investment Research downgraded shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research report on Saturday, November 18th. SunTrust Banks reduced their price objective on shares of Macquarie Infrastructure to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $83.75.
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About Macquarie Infrastructure
Macquarie Infrastructure Corporation owns and operates a group of businesses that provide services, such as bulk liquid terminalling and handling services. The Company operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP) and MIC Hawaii. Its group of businesses also provides services, such as aircraft fueling, CP generation and utility gas services.
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