Insider Selling: Macquarie Infrastructure Corp (NYSE:MIC) Major Shareholder Sells $998,844.00 in Stock

Macquarie Infrastructure Corp (NYSE:MIC) major shareholder Group Ltd Macquarie sold 65,800 shares of the company’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $15.18, for a total value of $998,844.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of MIC opened at $22.28 on Thursday. The company has a market cap of $1.97 billion, a P/E ratio of 12.45 and a beta of 1.37. The stock has a fifty day moving average price of $36.55 and a 200 day moving average price of $40.39. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.30 and a quick ratio of 2.17. Macquarie Infrastructure Corp has a 12 month low of $12.50 and a 12 month high of $45.93.

Macquarie Infrastructure (NYSE:MIC) last issued its quarterly earnings data on Tuesday, February 25th. The conglomerate reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.13). Macquarie Infrastructure had a return on equity of 14.29% and a net margin of 9.03%. The company had revenue of $424.00 million for the quarter, compared to the consensus estimate of $441.50 million. As a group, research analysts anticipate that Macquarie Infrastructure Corp will post 3.84 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Friday, March 6th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, March 5th. This represents a $4.00 dividend on an annualized basis and a yield of 17.95%. Macquarie Infrastructure’s dividend payout ratio (DPR) is presently 85.11%.

A number of hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. boosted its position in Macquarie Infrastructure by 1.5% during the 4th quarter. Macquarie Group Ltd. now owns 13,358,167 shares of the conglomerate’s stock worth $572,264,000 after acquiring an additional 202,586 shares during the period. Renaissance Technologies LLC boosted its position in Macquarie Infrastructure by 1.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,595,400 shares of the conglomerate’s stock worth $68,347,000 after acquiring an additional 18,100 shares during the period. Nuveen Asset Management LLC boosted its position in Macquarie Infrastructure by 47.5% during the 4th quarter. Nuveen Asset Management LLC now owns 1,317,449 shares of the conglomerate’s stock worth $56,440,000 after acquiring an additional 424,348 shares during the period. Gabelli Funds LLC boosted its position in Macquarie Infrastructure by 12.1% during the 4th quarter. Gabelli Funds LLC now owns 1,222,102 shares of the conglomerate’s stock worth $52,355,000 after acquiring an additional 131,502 shares during the period. Finally, Hawk Ridge Capital Management LP boosted its position in Macquarie Infrastructure by 33.1% during the 4th quarter. Hawk Ridge Capital Management LP now owns 1,062,752 shares of the conglomerate’s stock worth $45,528,000 after acquiring an additional 264,370 shares during the period. Institutional investors own 57.82% of the company’s stock.

A number of research analysts recently commented on the company. BMO Capital Markets downgraded Macquarie Infrastructure to a “market perform” rating and lowered their price objective for the stock from $62.00 to $61.00 in a research note on Friday, February 7th. ValuEngine upgraded Macquarie Infrastructure from a “strong sell” rating to a “sell” rating in a research note on Friday, January 31st. Wells Fargo & Co upgraded Macquarie Infrastructure from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research note on Thursday, January 9th. Royal Bank of Canada upgraded Macquarie Infrastructure from a “sector perform” rating to an “outperform” rating and lowered their price objective for the stock from $41.00 to $34.00 in a research note on Wednesday. Finally, TD Securities upped their price objective on Macquarie Infrastructure from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $47.86.

About Macquarie Infrastructure

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.

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