Is Macquarie Infrastructure Corp (MIC) a Good Investment Right Now?

Seeing as Macquarie Infrastructure Company LLC (NYSE:MIC) has experienced a bearish sentiment from hedge fund managers, logic holds that there lies a certain “tier” of money managers that decided to sell off their entire stakes in the third quarter. Intriguingly, Ken Griffin’s Citadel Investment Group dropped the largest stake of the 700 funds followed by Insider Monkey, valued at about $5.1 million in stock. Jacob Gottlieb’s fund, Visium Asset Management, also dumped its stock, about $4.3 million worth. These bearish behaviors are interesting, as total hedge fund interest dropped by 2 funds in the third quarter.

Let’s now take a look at hedge fund activity in other stocks similar toMacquarie Infrastructure Corp (NYSE:MIC). These stocks are United Rentals, Inc. (NYSE:URI), STERIS Corp (NYSE:STE), Michaels Companies Inc (NASDAQ:MIK), and Flowserve Corporation (NYSE:FLS). All of these stocks’ market caps match MIC’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
URI 43 539688 6
STE 22 628862 -8
MIK 23 510205 1
FLS 26 402485 -6

As you can see these stocks had an average of 29 funds with bullish positions at the end of September and the average amount invested in these stocks was $520 million. That figure was $1.06 billion in MIC’s case. United Rentals, Inc. (NYSE:URI) is the most popular stock in this table. On the other hand STERIS Corp (NYSE:STE) is the least popular one with only 22 bullish hedge fund positions. Compared to these stocksMacquarie Infrastructure Corp (NYSE:MIC) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None