Magnum Ice Cream (NYSE:MICC) Shares Gap Down – Time to Sell?

The Magnum Ice Cream Company N.V. (NYSE:MICC) gapped down before the market opened on Monday . The stock had previously closed at $16.66, but opened at $15.81. Magnum Ice Cream shares last traded at $16.0970, with a volume of 311,894 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Berenberg Bank upgraded shares of Magnum Ice Cream to a “hold” rating in a report on Friday, February 27th. Zacks Research raised Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings upgraded Magnum Ice Cream from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. The Goldman Sachs Group downgraded Magnum Ice Cream from a “neutral” rating to a “sell” rating in a research note on Friday, March 20th. Finally, BNP Paribas Exane lowered Magnum Ice Cream to a “neutral” rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Magnum Ice Cream currently has an average rating of “Reduce”.

Magnum Ice Cream Stock Down 5.0%

The firm’s 50-day moving average is $14.63.

Institutional Trading of Magnum Ice Cream

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas bought a new position in Magnum Ice Cream during the fourth quarter worth about $27,000. Cullen Frost Bankers Inc. acquired a new position in shares of Magnum Ice Cream in the 4th quarter worth approximately $28,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of Magnum Ice Cream during the 4th quarter worth approximately $30,000. Leonteq Securities AG bought a new position in shares of Magnum Ice Cream during the 4th quarter worth approximately $30,000. Finally, V Square Quantitative Management LLC acquired a new stake in Magnum Ice Cream in the 4th quarter valued at $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.