Chicago Partners Investment Group LLC trimmed its position in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 31.2% during the 4th quarter, Holdings Channel reports. The firm owned 133,865 shares of the conglomerate’s stock after selling 60,721 shares during the period. Chicago Partners Investment Group LLC’s holdings in Macquarie Infrastructure were worth $5,418,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Macquarie Infrastructure by 18.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 24,407 shares of the conglomerate’s stock valued at $1,029,000 after acquiring an additional 3,868 shares during the last quarter. FMR LLC raised its position in shares of Macquarie Infrastructure by 64.5% during the second quarter. FMR LLC now owns 1,609,896 shares of the conglomerate’s stock valued at $67,938,000 after buying an additional 631,459 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in shares of Macquarie Infrastructure during the second quarter valued at approximately $122,000. First Republic Investment Management Inc. bought a new stake in shares of Macquarie Infrastructure during the second quarter valued at approximately $3,756,000. Finally, Zacks Investment Management bought a new stake in shares of Macquarie Infrastructure during the second quarter worth $2,640,000. 79.97% of the stock is currently owned by institutional investors.
Several research firms have recently weighed in on MIC. Zacks Investment Research downgraded Macquarie Infrastructure from a “hold” rating to a “strong sell” rating in a research report on Thursday. ValuEngine upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Oppenheimer set a $60.00 price objective on Macquarie Infrastructure and gave the company a “buy” rating in a report on Thursday, November 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $50.00.
Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings data on Wednesday, October 31st. The conglomerate reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.27). The firm had revenue of $473.28 million during the quarter, compared to the consensus estimate of $476.20 million. Macquarie Infrastructure had a net margin of 25.26% and a return on equity of 5.81%.
In other news, CEO Christopher Frost bought 25,160 shares of Macquarie Infrastructure stock in a transaction on Monday, November 26th. The stock was acquired at an average cost of $39.73 per share, for a total transaction of $999,606.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin Stanley bought 12,000 shares of Macquarie Infrastructure stock in a transaction on Monday, November 5th. The stock was purchased at an average price of $39.04 per share, with a total value of $468,480.00. Following the completion of the acquisition, the director now directly owns 32,000 shares of the company’s stock, valued at approximately $1,249,280. The disclosure for this purchase can be found here. Insiders own 6.90% of the company’s stock.
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Macquarie Infrastructure Company Profile
Macquarie Infrastructure Corporation owns and operates a portfolio of businesses that provide services to other businesses, government agencies, and individuals. It operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP), and MIC Hawaii. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, chemicals, renewable fuels, and vegetable and animal oils through a network of 19 marine terminals, including 17 in the United States and 2 in Canada.
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