Macquarie Infrastructure Corp. (MIC) CEO James Hooke (Insider Trades)Â bought 15,000 shares of the company on Feb. 3. The price per share was $74.15 for a total transaction of $1,112,250. Macquarie owns, operates and invests in companies that provide modern services and technologies such as bulk liquid storage in the U.S. and Canada, aircraft fuel and hangaring, gas-fired power facilities and also wind and solar power facilities and gas and renewable energy services. The company has a market cap of $6.48 billion.
Hooke purchased 21,830 shares in three transactions since 2014. His earliest insider buy of 2,830 shares at an average per share price of $66.50 increased in value by nearly 20% since the purchase in July 2014. There were no other insider transactions that year. In the following year, Hooke and Macquarie Director Martin Stanley (Insider Trades) each purchased 4,000 shares for $80 per share. Macquarie Infrastructure Management (Insider Trades) sold 1.9 million shares during the same year and sold a total of 4,793,500 shares from 2015 to date. For more information about insider trades with Macquarie, click here.
The company reported total revenue of $420.524 million during the third quarter of 2016. Total revenue increased by 1.2% when compared to the total revenue of the previous year's third quarter. Operating income also increased from $73.449 million to $75.658 million, and net income increased by about 400%, from $10.638 million, or 13 cents per share, to $42.026 million, or 52 cents per share when comparing the third quarters of 2015 and 2016, respectively. Annual Macquarie revenue follows an increasing trend line as does annual Macquarie net income. Annual Macquarie revenue increased 13.47% since 2012. For more Macquarie financial statistics, click here.
On Feb. 3 Hooke commented that the company expects “a continuation of double-digit growth in Free Cash Flower per share for the next two years,” and the company has also “taken into consideration an expected reduction in expenses” due to “the implementation of [the company's] shared services strategy and the strength of [the company's] backlog of growth projects.”
Ron Baron (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) reduced their stakes in Macquarie while Jim Simons (Trades, Portfolio) increased his stake in the company. Baron and Jones reduced their stakes in Macquarie by 11.90% and 23.63% at an average per share price of $79.33. Both gurus increased their stakes in the company in the previous quarter.
Simons increased his stake in Macquarie by 94.21% after reducing his stake by 24.48% during the previous quarter. The total estimated gain of the holding since the first quarter of 2016 is 11%. For more information about guru trades with Macquarie, click here.
According to GuruFocus.com information, Macquarie Infrastructure Corp. has a business predictability rank of 1 out of 5 stars. For more information about business predictability rank, click here.
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