Allianz Asset Management GmbH Cuts Stock Position in The Magnum Ice Cream Company N.V. $MICC

Key Points

• Allianz Asset Management cut its Magnum Ice Cream position by 23.5% in the second quarter, selling 562,527 shares and retaining 1.83 million shares worth approximately $31.9 million.
• Analyst sentiment remains mixed but leans neutral: two analysts rate the stock a Buy, five a Hold, and one a Sell, resulting in a consensus “Hold” rating.
• Magnum Ice Cream shares opened at $19.34, near their 52-week high of $20.68. The company reported quarterly EPS of $0.41 on revenue of $2.68 billion.

Allianz Asset Management GmbH reduced its position in The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) by 23.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,832,714 shares of the company's stock after selling 562,527 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.30% of Magnum Ice Cream worth $31,925,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. M&T Bank Corp acquired a new stake in shares of Magnum Ice Cream in the fourth quarter valued at $836,000. Truist Financial Corp acquired a new position in Magnum Ice Cream during the 4th quarter worth $1,604,000. Generali Asset Management SPA SGR acquired a new position in Magnum Ice Cream during the 4th quarter worth $1,644,000. Oxbow Advisors LLC purchased a new stake in Magnum Ice Cream during the 4th quarter worth about $412,000. Finally, Plato Investment Management Ltd purchased a new stake in Magnum Ice Cream during the 4th quarter worth about $127,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MICC shares. Jefferies Financial Group reiterated a "hold" rating on shares of Magnum Ice Cream in a research note on Thursday, June 25th. Morgan Stanley reaffirmed an "overweight" rating on shares of Magnum Ice Cream in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised Magnum Ice Cream from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Magnum Ice Cream Stock Up 0.1%

NYSE MICC opened at $19.34 on Tuesday. The Magnum Ice Cream Company N.V. has a 52-week low of $12.94 and a 52-week high of $20.68. The firm has a 50-day moving average price of $18.99 and a 200 day moving average price of $16.74. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.01 and a quick ratio of 0.78.

Magnum Ice Cream (NYSE:MICC - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.41 earnings per share (EPS) for the quarter. The company had revenue of $2.68 billion during the quarter. On average, equities research analysts predict that The Magnum Ice Cream Company N.V. will post 1.1 earnings per share for the current fiscal year.

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.

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