Macquarie Infrastructure Corp (MIC) Stake Lessened by American Asset Management Inc.

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American Asset Management Inc. trimmed its position in Macquarie Infrastructure Corp (NYSE:MIC) by 12.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,700 shares of the conglomerate’s stock after selling 1,600 shares during the period. American Asset Management Inc.’s holdings in Macquarie Infrastructure were worth $428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its holdings in Macquarie Infrastructure by 14.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 434,407 shares of the conglomerate’s stock valued at $18,332,000 after acquiring an additional 56,335 shares during the period. United Services Automobile Association boosted its holdings in Macquarie Infrastructure by 10.2% during the 2nd quarter. United Services Automobile Association now owns 12,971 shares of the conglomerate’s stock valued at $547,000 after acquiring an additional 1,199 shares during the period. Patten & Patten Inc. TN boosted its holdings in Macquarie Infrastructure by 1.0% during the 3rd quarter. Patten & Patten Inc. TN now owns 147,431 shares of the conglomerate’s stock valued at $6,801,000 after acquiring an additional 1,483 shares during the period. Cornerstone Wealth Management LLC boosted its holdings in Macquarie Infrastructure by 210.9% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 73,277 shares of the conglomerate’s stock valued at $1,010,000 after acquiring an additional 49,709 shares during the period. Finally, American Assets Investment Management LLC boosted its holdings in Macquarie Infrastructure by 33.3% during the 3rd quarter. American Assets Investment Management LLC now owns 40,000 shares of the conglomerate’s stock valued at $1,827,000 after acquiring an additional 10,000 shares during the period. 79.97% of the stock is currently owned by hedge funds and other institutional investors.

In other Macquarie Infrastructure news, CEO Christopher Frost acquired 25,160 shares of the company’s stock in a transaction on Monday, November 26th. The stock was acquired at an average price of $39.73 per share, for a total transaction of $999,606.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 6.90% of the company’s stock.

Several equities research analysts have weighed in on MIC shares. Royal Bank of Canada reiterated an “average” rating and issued a $47.00 price objective on shares of Macquarie Infrastructure in a report on Tuesday, January 15th. Oppenheimer set a $60.00 price objective on Macquarie Infrastructure and gave the stock a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research upgraded Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday, January 8th. ValuEngine upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Barclays set a $42.00 price objective on Macquarie Infrastructure and gave the stock a “hold” rating in a report on Wednesday, January 16th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Macquarie Infrastructure currently has a consensus rating of “Hold” and a consensus target price of $48.50.

NYSE MIC opened at $42.70 on Tuesday. Macquarie Infrastructure Corp has a fifty-two week low of $33.71 and a fifty-two week high of $65.59. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.42 and a quick ratio of 1.39. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 16.68 and a beta of 1.58.

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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 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.

Further Reading: Mutual Funds

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

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