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MIC

Top Buys by Top Brass: Chief Executive Officer Frost's $1.2M Bet on MIC

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A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money - maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $1.2M invested across 2 purchases by Christopher Frost, Chief Executive Officer at Macquarie Infrastructure Corp (Symbol: MIC).

Purchased Insider Title Shares Price/Share Value
08/29/2018 Christopher Frost Chief Executive Officer 4,250 $47.25 $200,812.50
11/26/2018 Christopher Frost Chief Executive Officer 25,160 $39.73 $999,606.80

Frost's average cost works out to $40.82/share. Shares of Macquarie Infrastructure Corp were changing hands at $43.06 at last check, trading up about 0.9% on Tuesday. The chart below shows the one year performance of MIC shares, versus its 200 day moving average:

Macquarie Infrastructure Corp Chart

Looking at the chart above, MIC's low point in its 52 week range is $33.71 per share, with $65.59 as the 52 week high point - that compares with a last trade of $43.06.

The current annualized dividend paid by Macquarie Infrastructure Corp is $4/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 11/08/2018. Below is a long-term dividend history chart for MIC, which can be of good help in judging whether the most recent dividend with approx. 9.4% annualized yield is likely to continue.

MIC+Dividend+History+Chart

Click here to find out which other top insider buys by the ''top brass'' you need to know about »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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