Lazard Asset Management LLC Sells 765,969 Shares of The Magnum Ice Cream Company N.V. $MICC

Key Points

• Lazard Asset Management cut its Magnum Ice Cream position by 98.5% in the first quarter, selling 765,969 shares and retaining 11,858 shares valued at approximately $176,000.
• Analyst sentiment remains mixed but leans toward caution: two analysts rate the stock Buy, five Hold, and one Sell, giving Magnum Ice Cream an overall average rating of Hold.
• Magnum Ice Cream shares opened at $19.24, near their 12-month high of $19.93. The company recently reported quarterly EPS of $0.41 and revenue of $2.68 billion.

Lazard Asset Management LLC trimmed its position in The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) by 98.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,858 shares of the company's stock after selling 765,969 shares during the period. Lazard Asset Management LLC's holdings in Magnum Ice Cream were worth $176,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas bought a new stake in Magnum Ice Cream in the fourth quarter valued at approximately $27,000. Cullen Frost Bankers Inc. bought a new position in shares of Magnum Ice Cream during the fourth quarter worth $28,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of Magnum Ice Cream during the fourth quarter worth $30,000. Leonteq Securities AG acquired a new position in shares of Magnum Ice Cream in the 4th quarter valued at $30,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Magnum Ice Cream in the 4th quarter valued at $33,000.

Analysts Set New Price Targets

Several analysts recently commented on the company. Zacks Research raised Magnum Ice Cream from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Jefferies Financial Group reissued a "hold" rating on shares of Magnum Ice Cream in a research note on Thursday, June 25th. BNP Paribas Exane downgraded Magnum Ice Cream to a "neutral" rating in a report on Tuesday, April 21st. Morgan Stanley reaffirmed an "overweight" rating on shares of Magnum Ice Cream in a research report on Wednesday. Finally, Weiss Ratings upgraded Magnum Ice Cream from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold".

Magnum Ice Cream Trading Up 1.7%

Magnum Ice Cream stock opened at $19.24 on Friday. The company has a 50 day moving average of $17.90 and a 200-day moving average of $16.44. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 3.10. The Magnum Ice Cream Company N.V. has a twelve month low of $12.94 and a twelve month high of $19.93.

Magnum Ice Cream (NYSE:MICC - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.41 EPS for the quarter. The company had revenue of $2.68 billion for the quarter. Equities analysts predict that The Magnum Ice Cream Company N.V. will post 1.1 EPS for the current year.

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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