Verition Fund Management LLC Takes $461,000 Position in Macquarie Infrastructure Corp (NYSE:MIC)

Verition Fund Management LLC purchased a new stake in Macquarie Infrastructure Corp (NYSE:MIC) during the second quarter, Holdings Channel.com reports. The firm purchased 11,360 shares of the conglomerate’s stock, valued at approximately $461,000.

Several other large investors also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC grew its stake in Macquarie Infrastructure by 143.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 31,900 shares of the conglomerate’s stock worth $1,293,000 after buying an additional 18,800 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Macquarie Infrastructure by 32.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 51,330 shares of the conglomerate’s stock worth $2,081,000 after buying an additional 12,691 shares during the last quarter. Pension Partners LLC purchased a new position in Macquarie Infrastructure during the 2nd quarter worth $443,000. Voloridge Investment Management LLC purchased a new position in Macquarie Infrastructure during the 2nd quarter worth $857,000. Finally, Nuveen Asset Management LLC grew its stake in Macquarie Infrastructure by 141.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 829,424 shares of the conglomerate’s stock worth $33,625,000 after buying an additional 486,109 shares during the last quarter. Institutional investors and hedge funds own 57.69% of the company’s stock.

MIC stock traded up $0.09 on Thursday, hitting $38.77. 7,706 shares of the company’s stock were exchanged, compared to its average volume of 548,838. Macquarie Infrastructure Corp has a 12-month low of $33.71 and a 12-month high of $45.96. The firm has a 50 day moving average price of $38.42 and a two-hundred day moving average price of $40.25. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.56 and a current ratio of 1.60. The stock has a market cap of $3.33 billion, a P/E ratio of 18.24 and a beta of 1.40.

Macquarie Infrastructure (NYSE:MIC) last announced its earnings results on Wednesday, July 31st. The conglomerate reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.25. Macquarie Infrastructure had a return on equity of 10.42% and a net margin of 5.66%. The firm had revenue of $416.00 million for the quarter, compared to the consensus estimate of $412.30 million. Sell-side analysts expect that Macquarie Infrastructure Corp will post 4.82 earnings per share for the current fiscal year.

Several brokerages recently weighed in on MIC. Royal Bank of Canada upgraded Macquarie Infrastructure from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $48.00 to $51.00 in a research note on Tuesday, July 9th. ValuEngine downgraded Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Macquarie Infrastructure has a consensus rating of “Hold” and an average target price of $48.25.

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: International-Matex Tank Terminals (IMTT), Atlantic Aviation, and MIC Hawaii segments. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, specialty chemicals, renewable fuels, and vegetable and tropical oils through a network of 19 terminals, including 17 in the United States and 2 in Canada.

See Also: Capital Gains Distribution

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Institutional Ownership by Quarter for Macquarie Infrastructure (NYSE:MIC)

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