Magnum Ice Cream (NYSE:MICC) Downgraded to Sell Rating by The Goldman Sachs Group

The Goldman Sachs Group cut shares of Magnum Ice Cream (NYSE:MICC) from a neutral rating to a sell rating in a report issued on Friday, Marketbeat Ratings reports.

Several other research firms have also issued reports on MICC. Berenberg Bank upgraded shares of Magnum Ice Cream to a “hold” rating in a report on Friday, February 27th. Zacks Research downgraded Magnum Ice Cream from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Weiss Ratings initiated coverage on Magnum Ice Cream in a research report on Thursday, March 5th. They set a “hold (c)” rating for the company. Finally, Oddo Bhf assumed coverage on Magnum Ice Cream in a research note on Thursday, January 15th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Magnum Ice Cream has a consensus rating of “Reduce”.

Magnum Ice Cream Stock Performance

NYSE:MICC opened at $14.87 on Friday. Magnum Ice Cream has a one year low of $14.45 and a one year high of $19.93. The business’s 50-day simple moving average is $16.61.

Institutional Investors Weigh In On Magnum Ice Cream

A number of institutional investors have recently made changes to their positions in the company. BNP Paribas bought a new stake in shares of Magnum Ice Cream during the fourth quarter valued at approximately $27,000. Cullen Frost Bankers Inc. bought a new position in Magnum Ice Cream in the 4th quarter valued at approximately $28,000. Bartlett & CO. Wealth Management LLC bought a new position in Magnum Ice Cream in the 4th quarter valued at approximately $30,000. Leonteq Securities AG purchased a new stake in Magnum Ice Cream during the 4th quarter valued at $30,000. Finally, V Square Quantitative Management LLC purchased a new stake in Magnum Ice Cream during the 4th quarter valued at $33,000.

Magnum Ice Cream Company Profile

The Magnum Ice Cream Company N.V. engages in ice cream business. The Magnum Ice Cream Company N.V. is based in Amsterdam, Noord-Holland, Netherlands.