SEB Asset Management AB Buys Shares of 160,729 The Magnum Ice Cream Company N.V. $MICC

Key Points

• SEB Asset Management AB disclosed a new first-quarter position in The Magnum Ice Cream Company N.V., buying 160,729 shares valued at about $2.35 million.
• Several other institutional investors also recently initiated small stakes in Magnum Ice Cream, indicating continued interest from funds despite the company being a relatively new holding for many.
• Analyst sentiment is mixed: the stock currently carries an average "Hold" rating, with recent actions including an overweight reiteration from Morgan Stanley and downgrades or hold ratings from other firms.

SEB Asset Management AB purchased a new position in The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 160,729 shares of the company's stock, valued at approximately $2,354,000.

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

Magnum Ice Cream Price Performance

Shares of Magnum Ice Cream stock opened at $17.73 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 5.23. The firm has a fifty day moving average of $17.37. 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.

Analyst Ratings Changes

A number of research firms recently issued reports on MICC. Morgan Stanley reiterated an "overweight" rating on shares of Magnum Ice Cream in a research note on Monday, June 29th. BNP Paribas Exane lowered shares of Magnum Ice Cream to a "neutral" rating in a research report on Tuesday, April 21st. Zacks Research upgraded shares of Magnum Ice Cream from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 5th. 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 Magnum Ice Cream from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, June 16th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold".

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.

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.