Cheviot Value Management LLC Invests $1.18 Million in The Magnum Ice Cream Company N.V. $MICC

Key Points

• Cheviot Value Management disclosed a new fourth-quarter stake in The Magnum Ice Cream Company N.V., buying 74,222 shares worth about $1.18 million.
• Several other institutional investors also opened positions in MICC during the quarter, including Compagnie Lombard Odier SCmA, Bank Pictet & Cie Europe AG, Banque Pictet & Cie SA, Blue Trust Inc., and First Pacific Financial.
• Analyst sentiment has been mixed: recent ratings included both upgrades and downgrades, and MarketBeat data shows the stock’s average rating is currently “Reduce.”

Cheviot Value Management LLC purchased a new stake in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 74,222 shares of the company's stock, valued at approximately $1,176,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MICC. Compagnie Lombard Odier SCmA acquired a new stake in Magnum Ice Cream in the fourth quarter worth about $3,008,000. Bank Pictet & Cie Europe AG acquired a new position in Magnum Ice Cream during the 4th quarter valued at about $197,000. Banque Pictet & Cie SA bought a new stake in shares of Magnum Ice Cream during the 4th quarter worth about $729,000. Blue Trust Inc. bought a new stake in shares of Magnum Ice Cream during the 4th quarter worth about $135,000. Finally, First Pacific Financial acquired a new stake in shares of Magnum Ice Cream in the 4th quarter worth approximately $42,000.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Berenberg Bank upgraded shares of Magnum Ice Cream to a "hold" rating in a report on Friday, February 27th. BNP Paribas Exane downgraded Magnum Ice Cream to a "neutral" rating in a research report on Tuesday, April 21st. Zacks Research raised Magnum Ice Cream from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Oddo Bhf initiated coverage on Magnum Ice Cream in a research report on Thursday, January 15th. They set an "outperform" rating on the stock. Finally, The Goldman Sachs Group downgraded Magnum Ice Cream from a "neutral" rating to a "sell" rating in a research note on Friday, March 20th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce".

Magnum Ice Cream Price Performance

Shares of NYSE MICC opened at $14.82 on Friday. The Magnum Ice Cream Company N.V. has a one year low of $12.94 and a one year high of $19.93. The business's 50-day simple moving average is $14.69.

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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