Evelyn Partners Investment Management LLP Sells 212,733 Shares of The Magnum Ice Cream Company N.V. $MICC

Key Points

• Evelyn Partners Investment Management LLP reduced its Magnum Ice Cream stake by 53.8% in the first quarter, selling 212,733 shares and retaining 182,664 shares valued at approximately $2.68 million.
• Several institutional investors established new positions in Magnum Ice Cream during the fourth quarter, including Compagnie Lombard Odier, Bank Pictet and Banque Pictet.
• MICC shares opened at $18.05, within a 12-month range of $12.94 to $19.93. Analyst sentiment remains mixed, with a consensus “Hold” rating from two Buy, four Hold and two Sell ratings.

Evelyn Partners Investment Management LLP trimmed its holdings in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) by 53.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 182,664 shares of the company's stock after selling 212,733 shares during the period. Evelyn Partners Investment Management LLP's holdings in Magnum Ice Cream were worth $2,682,000 at the end of the most recent quarter.

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

Magnum Ice Cream Stock Performance

Shares of NYSE MICC opened at $18.05 on Tuesday. The Magnum Ice Cream Company N.V. has a 12-month low of $12.94 and a 12-month high of $19.93. 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 firm's 50 day simple moving average is $17.44.

Analyst Ratings Changes

Several equities analysts have issued reports on MICC shares. Jefferies Financial Group restated a "hold" rating on shares of Magnum Ice Cream in a research note on Thursday, June 25th. Zacks Research upgraded shares of Magnum Ice Cream from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Morgan Stanley reissued an "overweight" rating on shares of Magnum Ice Cream in a report on Monday, June 29th. BNP Paribas Exane cut shares of Magnum Ice Cream to a "neutral" rating in a report on Tuesday, April 21st. Finally, Weiss Ratings raised shares of Magnum Ice Cream from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold".

Magnum Ice Cream 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.

Want to see what other hedge funds are holding MICC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.