Magnum Ice Cream (NYSE:MICC) Rating Lowered to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Magnum Ice Cream (NYSE:MICC) from a "hold" rating to a "strong sell" in a report released Thursday.
• Analyst views are mixed: MarketBeat shows a consensus rating of "Hold" based on one Buy, two Hold and one Sell, while other firms (including Oddo Bhf and Berenberg) have issued differing ratings such as Outperform and Hold.
• Shares opened at $15.27 on Thursday with a 52-week range of $14.45–$19.93, and several institutions recently initiated small new positions (roughly $27k–$33k each).

Magnum Ice Cream (NYSE:MICC - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Thursday,Zacks.com reports.

MICC has been the topic of several other research reports. Oddo Bhf initiated coverage on Magnum Ice Cream in a report on Thursday, January 15th. They issued an "outperform" rating on the stock. Berenberg Bank upgraded Magnum Ice Cream to a "hold" rating in a research report on Friday, February 27th. Finally, Weiss Ratings started coverage on shares of Magnum Ice Cream in a research note on Thursday. They issued a "hold (c)" rating on the stock. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Magnum Ice Cream currently has a consensus rating of "Hold".

Magnum Ice Cream Stock Up 0.3%

Shares of NYSE MICC opened at $15.27 on Thursday. 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

Several institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas acquired a new position in shares of Magnum Ice Cream during the 4th quarter valued at about $27,000. Cullen Frost Bankers Inc. acquired a new position in Magnum Ice Cream in the 4th quarter valued at approximately $28,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Magnum Ice Cream in the 4th quarter valued at $30,000. Leonteq Securities AG acquired a new stake in Magnum Ice Cream during the fourth quarter valued at approximately $30,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Magnum Ice Cream during the fourth quarter valued at $33,000.

About Magnum Ice Cream

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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