JGP Global Gestao de Recursos Ltda. Makes New Investment in The Magnum Ice Cream Company N.V. $MICC

Key Points

• JGP Global Gestao de Recursos Ltda. bought 199,744 shares of The Magnum Ice Cream Company (NYSE:MICC) in Q4 — about $3.17 million, roughly 1.9% of the fund and its 8th largest holding.
• Analyst sentiment is largely negative with a MarketBeat consensus of "Reduce" (3 Sells, 1 Hold, 1 Buy) after downgrades from Goldman Sachs, Zacks and Weiss, although Oddo BHF initiated coverage with an "Outperform".
• MICC shares trade near $14.16, below the 50‑day moving average of $15.56 and within a 52‑week range of $13.96–$19.93.

JGP Global Gestao de Recursos Ltda. acquired a new position in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 199,744 shares of the company's stock, valued at approximately $3,166,000. Magnum Ice Cream accounts for approximately 1.9% of JGP Global Gestao de Recursos Ltda.'s holdings, making the stock its 8th largest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC purchased a new position in Magnum Ice Cream during the 4th quarter valued at about $30,000. V Square Quantitative Management LLC purchased a new position in Magnum Ice Cream during the 4th quarter valued at about $33,000. First Pacific Financial purchased a new position in Magnum Ice Cream during the 4th quarter valued at about $42,000. Maseco LLP purchased a new position in Magnum Ice Cream during the 4th quarter valued at about $42,000. Finally, CWM LLC purchased a new position in Magnum Ice Cream during the 4th quarter valued at about $75,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Oddo Bhf assumed coverage on Magnum Ice Cream in a research note on Thursday, January 15th. They set an "outperform" rating on the stock. The Goldman Sachs Group cut Magnum Ice Cream from a "neutral" rating to a "sell" rating in a research note on Friday, March 20th. Zacks Research cut Magnum Ice Cream from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 5th. Berenberg Bank raised Magnum Ice Cream to a "hold" rating in a research note on Friday, February 27th. Finally, Weiss Ratings cut Magnum Ice Cream from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce".

Magnum Ice Cream Price Performance

Shares of NYSE MICC opened at $14.16 on Friday. The firm has a 50 day moving average price of $15.56. The Magnum Ice Cream Company N.V. has a 52 week low of $13.96 and a 52 week high of $19.93.

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.

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.