Magnum Ice Cream (NYSE:MICC) Rating Lowered to "Sell" at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group downgraded Magnum Ice Cream (MICC) from "neutral" to "Sell", and other firms have issued downgrades leaving the MarketBeat consensus rating at "Reduce".
• Shares opened at $15.10 on Friday (down ~1.7%), trading below the 50‑day SMA of $16.64 and inside a one‑year range of $14.45–$19.93.
• Despite downgrades, several institutions (including Corient Private Wealth, Groupama, Rockefeller Capital Management, Anchor Investment Management and Virtu Financial) initiated or added positions in MICC during Q4, indicating some investor interest.

Magnum Ice Cream (NYSE:MICC - Get Free Report) was downgraded by analysts at The Goldman Sachs Group from a "neutral" rating to a "sell" rating in a research report issued to clients and investors on Friday,Finviz reports.

Several other research firms have also recently weighed in on MICC. Zacks Research cut shares of Magnum Ice Cream from a "hold" rating to a "strong sell" rating in a report on Thursday, March 5th. Oddo Bhf initiated coverage on Magnum Ice Cream in a research note on Thursday, January 15th. They set an "outperform" rating for the company. Berenberg Bank upgraded Magnum Ice Cream to a "hold" rating in a research report on Friday, February 27th. Finally, Weiss Ratings initiated coverage on Magnum Ice Cream in a research note on Thursday, March 5th. They issued a "hold (c)" rating on the stock. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce".

Magnum Ice Cream Trading Down 1.7%

Shares of MICC stock opened at $15.10 on Friday. The firm's fifty day simple moving average is $16.64. Magnum Ice Cream has a 1 year low of $14.45 and a 1 year high of $19.93.

Institutional Investors Weigh In On Magnum Ice Cream

Hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. bought a new stake in shares of Magnum Ice Cream in the 4th quarter worth approximately $237,000. Corient Private Wealth LLC bought a new position in shares of Magnum Ice Cream during the 4th quarter valued at $1,468,000. Groupama Asset Managment bought a new position in shares of Magnum Ice Cream during the 4th quarter valued at $562,000. Anchor Investment Management LLC purchased a new position in Magnum Ice Cream in the 4th quarter worth $120,000. Finally, Virtu Financial LLC bought a new stake in Magnum Ice Cream in the fourth quarter worth $175,000.

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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