Flossbach Von Storch SE Takes Position in The Magnum Ice Cream Company N.V. $MICC

Key Points

• Flossbach Von Storch SE bought 5,540,122 shares of The Magnum Ice Cream Company (NYSE:MICC) in Q4, a stake valued at about $88.6 million that represented roughly 0.90% of the company.
• Analyst sentiment is mixed but tilted negative: one Buy, two Hold and three Sell ratings lead to a MarketBeat consensus of "Reduce", with recent downgrades from Goldman Sachs, Zacks and Weiss while Oddo BHF initiated coverage as an "Outperform".
• MICC opened at $12.99 (down 1.9% on the day) and is trading near its one-year low of $12.97, versus a one-year high of $19.93.

Flossbach Von Storch SE purchased a new position in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,540,122 shares of the company's stock, valued at approximately $88,603,000. Flossbach Von Storch SE owned approximately 0.90% of Magnum Ice Cream at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Bartlett & CO. Wealth Management LLC bought a new position in Magnum Ice Cream during the 4th quarter valued at $30,000. V Square Quantitative Management LLC bought a new stake in shares of Magnum Ice Cream in the 4th quarter worth about $33,000. First Pacific Financial bought a new stake in shares of Magnum Ice Cream in the 4th quarter worth about $42,000. Maseco LLP acquired a new stake in shares of Magnum Ice Cream in the 4th quarter valued at about $42,000. Finally, TD Waterhouse Canada Inc. bought a new position in shares of Magnum Ice Cream during the fourth quarter worth about $57,000.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Oddo Bhf began coverage on Magnum Ice Cream in a research note on Thursday, January 15th. They issued an "outperform" rating for the company. Weiss Ratings cut Magnum Ice Cream from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday, March 20th. Berenberg Bank raised Magnum Ice Cream to a "hold" rating in a report on Friday, February 27th. Zacks Research downgraded Magnum Ice Cream from a "hold" rating to a "strong sell" rating in a report on Thursday, March 5th. Finally, The Goldman Sachs Group lowered Magnum Ice Cream from a "neutral" rating to a "sell" rating in a research report on Friday, March 20th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce".

Magnum Ice Cream Stock Down 1.9%

NYSE MICC opened at $12.99 on Tuesday. The Magnum Ice Cream Company N.V. has a one year low of $12.97 and a one year high of $19.93. The firm has a 50-day simple moving average of $14.91.

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.

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