In a recent transaction, BII BIP Holdings LP, an affiliated entity, has sold shares of Brookfield Infrastructure (NYSE:BIPC) Income Fund Inc. (NYSE:BII), with the total sale amounting to approximately $58.5 million. The shares were sold on May 14, 2024, at a price of $10.17 per share.
The sale involved 5,752,212.39 shares of common stock of Brookfield Infrastructure Income Fund Inc., a company known for its investments in infrastructure assets. Following the transaction, BII BIP Holdings LP's holding in the company has been reduced to 3,263,493.73 shares.
This move by BII BIP Holdings LP is part of the normal course of investment management activities. The transaction was publicly reported in compliance with SEC regulations, which mandate the disclosure of sales and purchases by company affiliates and insiders.
Investors and market watchers often keep a close eye on such transactions as they can provide insights into an insider's view of the company's value. The sale by BII BIP Holdings LP represents a significant change in their investment in Brookfield Infrastructure Income Fund Inc., which can be of interest to current and potential investors.
The reported transaction was signed off by James Bodi, a director at BII BIP Holdings LP, on May 16, 2024. The details of the transaction are now available for public record, providing transparency into the trading activities of the company's affiliates.
InvestingPro Insights
Brookfield Infrastructure Income Fund Inc. (NYSE:BII) has seen a notable transaction from an affiliated entity, BII BIP Holdings LP, which could signal investor sentiment regarding the company's financial health. A closer look at the real-time data from InvestingPro provides a clearer picture of BII's current financial status.
InvestingPro data indicates that Brookfield Infrastructure Income Fund Inc. has an EBITDA of -$0.15 million for the last twelve months as of Q1 2024, which shows a substantial growth of 94.09% in this period. Despite this EBITDA growth, the company's operating and EBIT figures are both in the negative, at -$0.22 million. Additionally, the basic and diluted EPS (Continuing Operations) for the same period stand at -$0.00, reflecting a lack of profitability over the last year.
InvestingPro Tips for BII highlight that the stock generally trades with low price volatility, which may appeal to investors seeking stable investments. However, the company suffers from weak gross profit margins and a valuation that implies a poor free cash flow yield. Furthermore, BII operates with a moderate level of debt and has not been profitable over the last twelve months. Over the last decade, the price has performed poorly, with a 1-year price total return as of Y2024.D137 at -8.33%, and the company does not pay a dividend to shareholders.
For investors considering BII, these insights could be critical in assessing the company's potential for future growth and stability. For more detailed analysis and additional InvestingPro Tips, visit InvestingPro's dedicated BII page. There are 7 more tips available that could provide further guidance. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing your investment research with valuable insights.
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