Legacy Wealth Asset Management LLC Purchases New Holdings in The Magnum Ice Cream Company N.V. $MICC

Key Points

• Legacy Wealth Asset Management acquired 151,505 shares of Magnum Ice Cream, valued at approximately $2.64 million, making it the firm’s 29th-largest holding and 0.6% of its portfolio.
• Several major institutional investors—including FIL, Vanguard, First Eagle, Norges Bank and Barclays—also established sizable positions in MICC, while analyst sentiment remains broadly neutral with an average “Hold” rating.
• MICC opened at $19.24, near its 52-week high of $19.93. The company recently reported quarterly EPS of $0.41 on revenue of $2.68 billion, while analysts forecast full-year EPS of $1.10.

Legacy Wealth Asset Management LLC acquired a new position in The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 151,505 shares of the company's stock, valued at approximately $2,638,000. Magnum Ice Cream accounts for 0.6% of Legacy Wealth Asset Management LLC's investment portfolio, making the stock its 29th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MICC. FIL Ltd purchased a new stake in shares of Magnum Ice Cream in the fourth quarter valued at $360,762,000. Vanguard Group Inc. purchased a new position in shares of Magnum Ice Cream during the fourth quarter valued at $344,031,000. First Eagle Investment Management LLC acquired a new position in Magnum Ice Cream during the fourth quarter valued at $260,541,000. Norges Bank acquired a new position in Magnum Ice Cream during the fourth quarter valued at $173,632,000. Finally, Barclays PLC acquired a new position in Magnum Ice Cream during the fourth quarter valued at $156,326,000.

Analysts Set New Price Targets

MICC has been the subject of a number of research reports. Zacks Research upgraded Magnum Ice Cream from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 5th. Morgan Stanley reiterated an "overweight" rating on shares of Magnum Ice Cream in a report on Wednesday. BNP Paribas Exane lowered shares of Magnum Ice Cream to a "neutral" rating in a research report on Tuesday, April 21st. Jefferies Financial Group reaffirmed a "hold" rating on shares of Magnum Ice Cream in a research report on Thursday, June 25th. Finally, Weiss Ratings upgraded shares of Magnum Ice Cream from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold".

Magnum Ice Cream Price Performance

NYSE MICC opened at $19.24 on Monday. The Magnum Ice Cream Company N.V. has a fifty-two week low of $12.94 and a fifty-two week high of $19.93. The stock's 50-day moving average is $17.90 and its two-hundred day moving average is $16.44. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.78 and a current ratio of 1.01.

Magnum Ice Cream (NYSE:MICC - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.41 earnings per share for the quarter. The company had revenue of $2.68 billion during the quarter. Equities research analysts anticipate 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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