DekaBank Deutsche Girozentrale Invests $1.07 Million in The Magnum Ice Cream Company N.V. $MICC

Key Points

• DekaBank Deutsche Girozentrale opened a new position in The Magnum Ice Cream Company N.V. during Q1, buying 74,904 shares worth about $1.07 million.
• Several other institutional investors also recently added stakes in Magnum Ice Cream, signaling continued interest from funds despite the company being a relatively new public stock.
• Analyst sentiment is mixed but leans cautious: Magnum Ice Cream currently has an average “Hold” rating, with two Buy, four Hold, and two Sell ratings.

DekaBank Deutsche Girozentrale purchased a new position in The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 74,904 shares of the company's stock, valued at approximately $1,067,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA purchased a new stake in Magnum Ice Cream during the fourth quarter worth about $3,008,000. Bank Pictet & Cie Europe AG bought a new position in shares of Magnum Ice Cream during the 4th quarter valued at approximately $197,000. Banque Pictet & Cie SA bought a new position in shares of Magnum Ice Cream during the 4th quarter valued at approximately $729,000. Blue Trust Inc. purchased a new stake in shares of Magnum Ice Cream during the 4th quarter worth approximately $135,000. Finally, First Pacific Financial purchased a new stake in shares of Magnum Ice Cream during the 4th quarter worth approximately $42,000.

Analysts Set New Price Targets

A number of research firms recently commented on MICC. Morgan Stanley reaffirmed an "overweight" rating on shares of Magnum Ice Cream in a report on Monday, June 29th. Zacks Research raised Magnum Ice Cream from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 5th. BNP Paribas Exane downgraded Magnum Ice Cream to a "neutral" rating in a research report on Tuesday, April 21st. Jefferies Financial Group restated a "hold" rating on shares of Magnum Ice Cream in a research note on Thursday, June 25th. Finally, Weiss Ratings raised Magnum Ice Cream from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold".

Magnum Ice Cream Trading Down 0.0%

Shares of NYSE:MICC opened at $18.69 on Monday. The company has a debt-to-equity ratio of 5.23, a current ratio of 1.02 and a quick ratio of 0.74. The stock's 50-day simple moving average is $17.12. The Magnum Ice Cream Company N.V. has a twelve month low of $12.94 and a twelve month high of $19.93.

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.

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