Zurcher Kantonalbank Zurich Cantonalbank Buys New Position in The Magnum Ice Cream Company N.V. $MICC

Key Points

• Zurcher Kantonalbank bought a new stake of 363,104 shares in The Magnum Ice Cream Company (MICC) in Q4, valued at about $5.81 million and representing roughly 0.06% of the company.
• Several other institutions also added positions in Q4, notably Ninety One UK (~$7.71M) and JGP Global (~$3.17M), alongside smaller buys from Ninety One SA, Clean Yield Group and Moran Wealth Management.
• Analyst sentiment is mixed-to-negative—one Buy, two Hold and three Sell ratings—leaving MICC with an average MarketBeat rating of "Reduce", following recent downgrades by Goldman Sachs and Zacks.

Zurcher Kantonalbank Zurich Cantonalbank bought 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 13F filing with the SEC. The institutional investor bought 363,104 shares of the company's stock, valued at approximately $5,807,000. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Magnum Ice Cream as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Ninety One UK Ltd acquired a new position in Magnum Ice Cream in the 4th quarter valued at approximately $7,710,000. Ninety One SA Pty Ltd acquired a new position in Magnum Ice Cream in the 4th quarter valued at approximately $477,000. Moran Wealth Management LLC acquired a new position in Magnum Ice Cream in the 4th quarter valued at approximately $327,000. JGP Global Gestao de Recursos Ltda. acquired a new position in Magnum Ice Cream in the 4th quarter valued at approximately $3,166,000. Finally, Clean Yield Group acquired a new position in Magnum Ice Cream in the 4th quarter valued at approximately $405,000.

Magnum Ice Cream Stock Up 0.8%

Shares of MICC opened at $13.26 on Friday. The Magnum Ice Cream Company N.V. has a 1 year low of $13.06 and a 1 year high of $19.93. The stock has a 50 day moving average of $14.99.

Analyst Ratings Changes

MICC has been the subject of several recent research reports. BNP Paribas Exane cut Magnum Ice Cream to a "neutral" rating in a report on Tuesday. Berenberg Bank raised Magnum Ice Cream to a "hold" rating in a report on Friday, February 27th. Zacks Research cut Magnum Ice Cream from a "hold" rating to a "strong sell" rating in a report on Thursday, March 5th. The Goldman Sachs Group cut Magnum Ice Cream from a "neutral" rating to a "sell" rating in a report on Friday, March 20th. Finally, Oddo Bhf initiated coverage on Magnum Ice Cream in a report on Thursday, January 15th. They issued an "outperform" rating for the company. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Magnum Ice Cream presently has an average 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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