Y Intercept Hong Kong Ltd Takes Position in The Magnum Ice Cream Company N.V. $MICC

Key Points

• Y Intercept Hong Kong Ltd disclosed a new first-quarter stake in The Magnum Ice Cream Company N.V., buying 78,005 shares valued at about $1.17 million.
• The stock rose 0.9% on Friday to $18.55, after trading as high as $19.93 over the past 52 weeks and with a recent 50-day average of $16.75.
• Analyst sentiment is mixed, with the consensus rating at Hold; recent calls included Morgan Stanley reaffirming Overweight while Goldman Sachs downgraded the stock to Sell.

Y Intercept Hong Kong Ltd bought a new stake in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 78,005 shares of the company's stock, valued at approximately $1,166,000.

Several other hedge funds also recently bought and sold shares of the company. FIL Ltd bought a new stake in shares of Magnum Ice Cream during the fourth quarter valued at approximately $360,762,000. Vanguard Group Inc. purchased a new position in Magnum Ice Cream during the fourth quarter valued at $344,031,000. First Eagle Investment Management LLC purchased a new position in Magnum Ice Cream during the fourth quarter valued at $260,541,000. Norges Bank bought a new stake in Magnum Ice Cream in the 4th quarter valued at $173,632,000. Finally, Barclays PLC bought a new stake in Magnum Ice Cream in the 4th quarter valued at $156,326,000.

Magnum Ice Cream Trading Up 0.9%

Shares of Magnum Ice Cream stock traded up $0.17 during trading on Friday, hitting $18.55. 1,710,786 shares of the stock traded hands, compared to its average volume of 1,289,193. The Magnum Ice Cream Company N.V. has a 52-week low of $12.94 and a 52-week high of $19.93. The firm's fifty day moving average is $16.75.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley reaffirmed an "overweight" rating on shares of Magnum Ice Cream in a report on Monday, June 29th. BNP Paribas Exane downgraded shares of Magnum Ice Cream to a "neutral" rating in a research note on Tuesday, April 21st. Jefferies Financial Group reiterated a "hold" rating on shares of Magnum Ice Cream in a research report on Thursday, June 25th. Weiss Ratings raised shares of Magnum Ice Cream from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, June 16th. Finally, 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. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently 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.

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