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Macquarie Infrastructure Company LLC (NYSE:MIC): Are Hedge Funds Right About This Stock?

Macquarie Infrastructure Company LLC (NYSE:MIC) was in 24 hedge funds’ portfolio at the end of the fourth quarter of 2012. MIC has seen an increase in activity from the world’s largest hedge funds in recent months. There were 19 hedge funds in our database with MIC holdings at the end of the previous quarter.

02 Jamie Zimmerman

At the moment, there are many indicators investors can use to analyze Mr. Market. Two of the most under-the-radar are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite fund managers can outpace the market by a solid amount (see just how much).

Equally as integral, optimistic insider trading sentiment is another way to parse down the world of equities. As the old adage goes: there are lots of incentives for an executive to get rid of shares of his or her company, but just one, very simple reason why they would behave bullishly. Plenty of empirical studies have demonstrated the market-beating potential of this tactic if piggybackers understand what to do (learn more here).

With these “truths” under our belt, it’s important to take a look at the recent action regarding Macquarie Infrastructure Company LLC (NYSE:MIC).

What does the smart money think about Macquarie Infrastructure Company LLC (NYSE:MIC)?

In preparation for this year, a total of 24 of the hedge funds we track held long positions in this stock, a change of 26% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were upping their holdings considerably.

Of the funds we track, Senator Investment Group, managed by Doug Silverman, holds the biggest position in Macquarie Infrastructure Company LLC (NYSE:MIC). Senator Investment Group has a $182 million position in the stock, comprising 4% of its 13F portfolio. The second largest stake is held by Archer Capital Management, managed by Eric Edidin and Josh Lobel, which held a $61 million position; 3.5% of its 13F portfolio is allocated to the stock. Other hedgies with similar optimism include Jamie Zimmerman’s Litespeed Management, Israel Englander’s Millennium Management and Jim Simons’s Renaissance Technologies.

Now, specific money managers were breaking ground themselves. P2 Capital Partners, managed by Claus Moller, created the biggest position in Macquarie Infrastructure Company LLC (NYSE:MIC). P2 Capital Partners had 18 million invested in the company at the end of the quarter. Stephen J. Errico’s Locust Wood Capital Advisers also made a $7 million investment in the stock during the quarter. The other funds with brand new MIC positions are Charles Anderson’s Fox Point Capital Management, Richard Driehaus’s Driehaus Capital, and Alexander Mitchell’s Scopus Asset Management.

How have insiders been trading Macquarie Infrastructure Company LLC (NYSE:MIC)?

Insider buying is most useful when the company we’re looking at has experienced transactions within the past six months. Over the last half-year time frame, Macquarie Infrastructure Company LLC (NYSE:MIC) has seen zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).

With the results demonstrated by our studies, everyday investors should always monitor hedge fund and insider trading sentiment, and Macquarie Infrastructure Company LLC (NYSE:MIC) is an important part of this process.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

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