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Shares of Macquarie Infrastructure Company (NYSE:MIC) were the target of a significant drop in short interest in July. As of July 31st, there was short interest totalling 472,547 shares, a drop of 40.1% from the July 15th total of 788,603 shares, AmericanBankingNews.com reports. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 651,531 shares, the days-to-cover ratio is currently 0.7 days.

Separately, analysts at Oppenheimer raised their price target on shares of Macquarie Infrastructure Company from $65.00 to $77.00 in a research note on Thursday, July 10th. They now have an “outperform” rating on the stock.

Shares of Macquarie Infrastructure Company (NYSE:MIC) opened at 71.15 on Wednesday. Macquarie Infrastructure Company has a 52-week low of $51.52 and a 52-week high of $73.47. The stock has a 50-day moving average of $69.52 and a 200-day moving average of $60.68. The company has a market cap of $4.981 billion and a price-to-earnings ratio of 69.93.

Macquarie Infrastructure Company (NYSE:MIC) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.13. The company had revenue of $280.90 million for the quarter, compared to the consensus estimate of $325.99 million. On average, analysts predict that Macquarie Infrastructure Company will post $1.31 earnings per share for the current fiscal year.

Macquarie Infrastructure Company LLC (NYSE:MIC) owns, operates and invests in a diversified group of infrastructure businesses in the United States.

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