Ruffer LLP Acquires New Holdings in The Magnum Ice Cream Company N.V. $MICC

Key Points

• Ruffer LLP acquired 340,183 shares of The Magnum Ice Cream Company (NYSE:MICC) in Q4, a stake valued at about $5.40 million and representing roughly 0.06% of the company at quarter-end.
• Several other institutions also initiated sizable new positions in Q4, led by Rathbones (~$32.93 million), Ninety One UK (~$7.71 million) and Zurcher Kantonalbank (~$5.81 million).
• Wall Street sentiment has turned negative with multiple downgrades (including BNP Paribas Exane, Zacks, Weiss and Goldman Sachs), a breakdown of 1 Buy, 2 Hold, 3 Sell, and a consensus rating of "Reduce".

Ruffer LLP acquired a new stake in The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 340,183 shares of the company's stock, valued at approximately $5,398,000. Ruffer LLP owned about 0.06% of Magnum Ice Cream at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MICC. Rathbones Group PLC acquired a new stake in Magnum Ice Cream in the 4th quarter valued at about $32,931,000. Ninety One UK Ltd acquired a new stake in Magnum Ice Cream in the 4th quarter valued at about $7,710,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Magnum Ice Cream in the 4th quarter valued at about $5,807,000. JGP Global Gestao de Recursos Ltda. acquired a new stake in Magnum Ice Cream in the 4th quarter valued at about $3,166,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in Magnum Ice Cream in the 4th quarter valued at about $3,008,000.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MICC. BNP Paribas Exane lowered shares of Magnum Ice Cream to a "neutral" rating in a report on Tuesday. Zacks Research lowered shares of Magnum Ice Cream from a "hold" rating to a "strong sell" rating in a report on Thursday, March 5th. 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. The Goldman Sachs Group lowered shares of Magnum Ice Cream from a "neutral" rating to a "sell" rating in a report on Friday, March 20th. Finally, Oddo Bhf began coverage on shares of Magnum Ice Cream in a report on Thursday, January 15th. They issued an "outperform" rating on the stock. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce".

Magnum Ice Cream Stock Performance

NYSE:MICC opened at $13.48 on Wednesday. The company has a 50-day moving average price of $15.26. The Magnum Ice Cream Company N.V. has a 12-month low of $13.46 and a 12-month 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.

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