Brookstone Capital Management Has $340,000 Stake in Macquarie Infrastructure Corp (MIC)
Brookstone Capital Management increased its position in Macquarie Infrastructure Corp (NYSE:MIC) by 23.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,301 shares of the conglomerate’s stock after buying an additional 998 shares during the quarter. Brookstone Capital Management’s holdings in Macquarie Infrastructure were worth $340,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Cowen Prime Services LLC purchased a new position in shares of Macquarie Infrastructure in the fourth quarter valued at $161,000. LS Investment Advisors LLC boosted its stake in shares of Macquarie Infrastructure by 40.2% in the fourth quarter. LS Investment Advisors LLC now owns 2,908 shares of the conglomerate’s stock valued at $187,000 after purchasing an additional 834 shares during the period. BlueCrest Capital Management Ltd purchased a new position in shares of Macquarie Infrastructure in the second quarter valued at $233,000. FNY Partners Fund LP boosted its stake in shares of Macquarie Infrastructure by 200.0% in the third 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 during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Macquarie Infrastructure by 3.6% in the second quarter. Toronto Dominion Bank now owns 3,056 shares of the conglomerate’s stock valued at $240,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 75.76% of the company’s stock.
In other Macquarie Infrastructure news, Director Norman H. Brown, Jr. sold 1,732 shares of the 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 transaction, the director now directly owns 49,076 shares in the company, valued at approximately $3,232,636.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Norman H. Brown, Jr. sold 2,151 shares of the 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 transaction, the director now owns 46,925 shares in the company, valued at $3,100,334.75. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. SunTrust Banks decreased their target price on shares of Macquarie Infrastructure to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $83.75.
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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.
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