Benson Investment Management Company Inc. Takes Position in Macquarie Infrastructure Corp (MIC)
Benson Investment Management Company Inc. acquired a new stake in Macquarie Infrastructure Corp (NYSE:MIC) in the 4th quarter, Holdings Channel reports. The firm acquired 36,555 shares of the conglomerate’s stock, valued at approximately $2,347,000.
Several other large investors also recently added to or reduced their stakes in MIC. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Macquarie Infrastructure during the 2nd quarter valued at $206,000. FNY Partners Fund LP increased its stake in Macquarie Infrastructure by 200.0% during the 3rd 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 in the last quarter. Sigma Planning Corp bought a new stake in Macquarie Infrastructure during the 3rd quarter valued at $221,000. BlueCrest Capital Management Ltd bought a new stake in Macquarie Infrastructure during the 2nd quarter valued at $233,000. Finally, Comerica Bank increased its stake in Macquarie Infrastructure by 2.0% during the 2nd quarter. Comerica Bank now owns 3,158 shares of the conglomerate’s stock valued at $240,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 75.72% of the company’s stock.
In other Macquarie Infrastructure news, Director Norman H. Brown, Jr. sold 2,151 shares of the business’s stock in a transaction on 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 sale, the director now owns 46,925 shares in the company, valued at approximately $3,100,334.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Norman H. Brown, Jr. sold 1,732 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $65.87, for a total transaction of $114,086.84. Following the sale, the director now owns 49,076 shares of the company’s stock, valued at approximately $3,232,636.12. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.
Shares of Macquarie Infrastructure Corp (NYSE:MIC) traded down $0.97 during mid-day trading on Friday, reaching $64.96. 670,680 shares of the company’s stock were exchanged, compared to its average volume of 998,412. The company has a market cap of $5,500.00, a price-to-earnings ratio of 31.38 and a beta of 0.87. The company has a quick ratio of 0.93, a current ratio of 1.07 and a debt-to-equity ratio of 1.11. Macquarie Infrastructure Corp has a fifty-two week low of $63.08 and a fifty-two week high of $83.48.
A number of brokerages have commented on MIC. SunTrust Banks decreased their price target on shares of Macquarie Infrastructure to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 15th. Zacks Investment Research lowered shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research note on Saturday, November 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $83.75.
ILLEGAL ACTIVITY NOTICE: “Benson Investment Management Company Inc. Takes Position in Macquarie Infrastructure Corp (MIC)” was originally posted by Daily Political and is the property of of Daily Political. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this story can be accessed at https://www.dailypolitical.com/2018/01/12/benson-investment-management-company-inc-takes-position-in-macquarie-infrastructure-corp-mic.html.
Macquarie Infrastructure Profile
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.
Want to see what other hedge funds are holding MIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macquarie Infrastructure Corp (NYSE:MIC).
Receive News & Ratings for Macquarie Infrastructure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macquarie Infrastructure and related companies with MarketBeat.com's FREE daily email newsletter.