Magnum Ice Cream (NYSE:MICC) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Magnum Ice Cream (NYSE:MICC) from a strong sell rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

Several other research analysts have also weighed in on the company. BNP Paribas Exane lowered Magnum Ice Cream to a “neutral” rating in a research report on Tuesday, April 21st. Berenberg Bank upgraded Magnum Ice Cream to a “hold” rating in a research note on Friday, February 27th. Weiss Ratings downgraded Magnum Ice Cream from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, March 20th. Oddo Bhf started coverage on Magnum Ice Cream in a research note on Thursday, January 15th. They issued an “outperform” rating on the stock. Finally, The Goldman Sachs Group cut Magnum Ice Cream from a “neutral” rating to a “sell” rating in a report on Friday, March 20th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Magnum Ice Cream has an average rating of “Reduce”.

Magnum Ice Cream Stock Down 2.1%

Shares of MICC traded down $0.32 during mid-day trading on Tuesday, reaching $14.75. The company had a trading volume of 142,655 shares, compared to its average volume of 1,498,761. Magnum Ice Cream has a fifty-two week low of $12.94 and a fifty-two week high of $19.93. The company’s fifty day simple moving average is $14.72.

Institutional Trading of Magnum Ice Cream

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas purchased a new position in Magnum Ice Cream in the fourth quarter valued at about $27,000. Cullen Frost Bankers Inc. acquired a new position in shares of Magnum Ice Cream during the fourth quarter worth about $28,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Magnum Ice Cream in the fourth quarter worth about $30,000. Leonteq Securities AG acquired a new stake in shares of Magnum Ice Cream in the fourth quarter valued at about $30,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Magnum Ice Cream in the fourth quarter valued at about $33,000.

About Magnum Ice Cream

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.