Rathbones Group PLC Makes New Investment in The Magnum Ice Cream Company N.V. $MICC

Key Points

• Rathbones Group PLC acquired a new position of 2,078,454 shares in The Magnum Ice Cream Company (NYSE:MICC), valued at about $32.93 million and representing roughly 0.34% ownership.
• Analyst sentiment has turned negative with a consensus rating of "Reduce" (one Buy, one Hold, three Sell); notable downgrades include Zacks, Weiss Ratings and Goldman Sachs while Oddo Bhf initiated coverage with an "outperform" and Berenberg raised to "hold".
• MICC shares opened at $14.31, trading near their one-year low of $14.15 (one-year high $19.93), with a 50-day moving average of $16.21.

Rathbones Group PLC acquired a new position in The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,078,454 shares of the company's stock, valued at approximately $32,931,000. Rathbones Group PLC owned 0.34% of Magnum Ice Cream at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Euro Pacific Asset Management LLC acquired a new position in Magnum Ice Cream during the fourth quarter valued at approximately $237,000. Signaturefd LLC acquired a new stake in shares of Magnum Ice Cream in the fourth quarter worth $148,000. Advocate Group LLC purchased a new position in shares of Magnum Ice Cream in the 4th quarter valued at $365,000. QV Investors Inc. purchased a new position in shares of Magnum Ice Cream in the 4th quarter valued at $794,000. Finally, Hall Laurie J Trustee acquired a new position in shares of Magnum Ice Cream during the 4th quarter valued at $177,000.

Analysts Set New Price Targets

MICC has been the topic of a number of recent research reports. Zacks Research cut Magnum Ice Cream from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 5th. Oddo Bhf started coverage on Magnum Ice Cream in a research note on Thursday, January 15th. They issued an "outperform" rating for the company. Weiss Ratings downgraded Magnum Ice Cream from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, March 20th. Berenberg Bank raised Magnum Ice Cream to a "hold" rating in a research report on Friday, February 27th. Finally, The Goldman Sachs Group cut Magnum Ice Cream from a "neutral" rating to a "sell" rating in a report on Friday, March 20th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce".

Magnum Ice Cream Trading Up 0.0%

Shares of MICC stock opened at $14.31 on Monday. The Magnum Ice Cream Company N.V. has a one year low of $14.15 and a one year high of $19.93. The stock's 50-day moving average is $16.21.

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.

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