Pictet Asset Management Holding SA Invests $5.48 Million in The Magnum Ice Cream Company N.V. $MICC

Key Points

• Pictet Asset Management acquired a new position of 344,705 shares in The Magnum Ice Cream Company N.V., valued at approximately $5.48 million, representing about 0.06% ownership.
• Analyst sentiment is mixed-to-negative with a MarketBeat consensus of "Reduce" (1 Buy, 2 Hold, 3 Sell); notable recent moves include downgrades by Weiss Ratings and Zacks and an outperform initiation from Oddo Bhf.
• The stock opened at $14.88, trades near its 50-day SMA of $14.77, and has a 1-year range of $12.94–$19.93.

Pictet Asset Management Holding SA acquired a new position in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 344,705 shares of the company's stock, valued at approximately $5,484,000. Pictet Asset Management Holding SA owned 0.06% of Magnum Ice Cream at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MICC. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Magnum Ice Cream during the 4th quarter worth about $30,000. V Square Quantitative Management LLC purchased a new position in shares of Magnum Ice Cream during the 4th quarter worth about $33,000. First Pacific Financial purchased a new position in shares of Magnum Ice Cream during the 4th quarter worth about $42,000. Maseco LLP purchased a new position in shares of Magnum Ice Cream during the 4th quarter worth about $42,000. Finally, TD Waterhouse Canada Inc. purchased a new position in shares of Magnum Ice Cream during the 4th quarter worth about $57,000.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Magnum Ice Cream from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, March 20th. Zacks Research downgraded shares of Magnum Ice Cream from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 5th. Oddo Bhf began coverage on shares of Magnum Ice Cream in a research report on Thursday, January 15th. They set an "outperform" rating for the company. BNP Paribas Exane downgraded shares of Magnum Ice Cream to a "neutral" rating in a research report on Tuesday, April 21st. Finally, Berenberg Bank raised shares of Magnum Ice Cream to a "hold" rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce".

Magnum Ice Cream Price Performance

MICC opened at $14.88 on Monday. The business's 50 day simple moving average is $14.77. The Magnum Ice Cream Company N.V. has a 1 year low of $12.94 and a 1 year high of $19.93.

About Magnum Ice Cream

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.