Magnum Ice Cream (NYSE:MICC) Hits New 12-Month Low – Here’s What Happened

Shares of The Magnum Ice Cream Company N.V. (NYSE:MICC) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $14.36 and last traded at $14.4020, with a volume of 21653 shares changing hands. The stock had previously closed at $14.95.

Wall Street Analyst Weigh In

MICC has been the subject of a number of recent analyst reports. Berenberg Bank upgraded Magnum Ice Cream to a “hold” rating in a report on Friday, February 27th. Zacks Research lowered Magnum Ice Cream from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. The Goldman Sachs Group cut Magnum Ice Cream from a “neutral” rating to a “sell” rating in a research note on Friday, March 20th. Weiss Ratings downgraded Magnum Ice Cream from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, March 20th. Finally, Oddo Bhf started coverage on Magnum Ice Cream in a research note on Thursday, January 15th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Magnum Ice Cream has a consensus rating of “Reduce”.

Magnum Ice Cream Trading Down 2.6%

The company has a 50-day moving average price of $16.34.

Institutional Trading of Magnum Ice Cream

Hedge funds have recently bought and sold shares of the business. FIL Ltd acquired a new position in shares of Magnum Ice Cream during the fourth quarter valued at about $360,762,000. Vanguard Group Inc. purchased a new position in shares of Magnum Ice Cream in the 4th quarter worth approximately $344,031,000. First Eagle Investment Management LLC bought a new position in shares of Magnum Ice Cream in the fourth quarter valued at approximately $260,541,000. Norges Bank bought a new position in Magnum Ice Cream in the 4th quarter valued at $173,632,000. Finally, Barclays PLC bought a new position in Magnum Ice Cream during the fourth quarter valued at about $156,326,000.

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.