In a recent transaction, Brookfield BRP (NASDAQ:DOOO) Holdings (US) Inc. sold shares of Brookfield Infrastructure (NYSE:BIPC) Income Fund Inc. (NYSE:BII), valued at approximately $58.5 million. The sale, which took place on May 14, 2024, involved 5,752,212.39 shares at a price of $10.17 per share.
The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission by Brookfield BRP Holdings, which is an affiliated entity rather than a director, officer, or ten percent owner of the company. The sale resulted in Brookfield BRP Holdings retaining a total of 8,381,974.69 shares in the infrastructure-focused fund following the transaction.
Brookfield Infrastructure Income Fund Inc., which trades under the ticker BII, is part of the Brookfield family of funds, known for their investments in long-life, high-quality assets across utilities, transport, energy, and data infrastructure sectors globally.
Investors often track insider sales as they can provide insights into an insider’s view of the company’s current valuation. In this case, the large sale by an affiliated entity may be of interest to current and potential shareholders of Brookfield Infrastructure Income Fund Inc.
The company's shares are listed on the New York Stock Exchange and the recent transaction is part of the regular reporting that insiders must submit to the SEC, detailing their transactions in the company's stock. The filing was signed by Michael Tebbutt, CFO & Treasurer of Brookfield BRP Holdings, on May 16, 2024, confirming the details of the transaction.
InvestingPro Insights
As market participants digest the news of Brookfield BRP Holdings' substantial sale of shares in Brookfield Infrastructure Income Fund Inc., it is imperative to consider the company's financial health and market performance. According to InvestingPro data, Brookfield Infrastructure Income Fund Inc. has experienced a significant EBITDA growth of 94.09% in the last twelve months as of Q1 2024, despite an operating loss of $0.22 million and an EBIT of the same amount. This suggests that while the company is managing to improve its earnings before interest, taxes, depreciation, and amortization, it is still facing challenges in generating positive operating income.
InvestingPro Tips indicate that Brookfield Infrastructure Income Fund Inc. operates with a moderate level of debt and has not been profitable over the last year. This is consistent with the basic and diluted EPS (Continuing Operations) for the last twelve months as of Q1 2024 being reported at -$0.0, reflecting the company's struggle to achieve profitability. Additionally, the company's shares have underperformed, with a 1-year price total return of -8.33% as of day 137 of 2024. It's also worth noting that Brookfield Infrastructure Income Fund Inc. does not distribute dividends to shareholders, which could be a consideration for income-focused investors.
For those looking to delve deeper into the company's prospects and financial nuances, InvestingPro offers additional insights and metrics. There are six more InvestingPro Tips available that could provide further clarity on Brookfield Infrastructure Income Fund Inc.'s valuation and performance. For a comprehensive analysis, interested parties can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking valuable information that could inform investment decisions.
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