Vanguard Group Inc. Takes $344.03 Million Position in The Magnum Ice Cream Company N.V. $MICC

Key Points

• Vanguard Group acquired a new 21,667,455-share stake in The Magnum Ice Cream Company valued at about $344.03 million, representing roughly 3.54% ownership at quarter-end.
• Wall Street sentiment is mixed-to-negative: analysts include one Buy, three Hold and two Sell ratings, and MarketBeat shows a consensus rating of "Reduce", with notable moves like Weiss Ratings cutting its view to a sell.
• MICC shares were down 2.6%, opening at $14.69 and trading at their 50-day moving average of $14.69, within a 52-week range of $12.94 to $19.93.

Vanguard Group Inc. acquired a new stake in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 21,667,455 shares of the company's stock, valued at approximately $344,031,000. Vanguard Group Inc. owned about 3.54% of Magnum Ice Cream at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. ProVise Management Group LLC purchased a new stake in shares of Magnum Ice Cream during the 4th quarter valued at $633,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Magnum Ice Cream during the 4th quarter valued at $161,000. Ruffer LLP purchased a new stake in shares of Magnum Ice Cream during the 4th quarter valued at $5,398,000. Foresight Capital Management Advisors Inc. purchased a new stake in shares of Magnum Ice Cream during the 4th quarter valued at $168,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Magnum Ice Cream during the 4th quarter valued at $285,000.

Magnum Ice Cream Stock Down 2.6%

Shares of MICC stock opened at $14.69 on Friday. The stock has a fifty day moving average price of $14.69. The Magnum Ice Cream Company N.V. has a 1 year low of $12.94 and a 1 year high of $19.93.

Wall Street Analyst Weigh In

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

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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