Magnum Ice Cream (NYSE:MICC) Reaches New 1-Year Low - Time to Sell?

Key Points

• Magnum Ice Cream (NYSE:MICC) hit a new 52-week low of $13.74 and last traded at $13.9250, trading below its 50-day moving average of $15.38.
• Analyst sentiment has turned negative with multiple downgrades and mixed coverage (one Buy, two Hold, three Sell), leaving MICC with an overall average rating of "Reduce".
• Despite downgrades, institutional activity shows selective buying — notably Assenagon Asset Management increased its stake by 182% and several firms (Corient, Rockefeller, Groupama) initiated new positions.

The Magnum Ice Cream Company N.V. (NYSE:MICC - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $13.74 and last traded at $13.9250, with a volume of 221653 shares. The stock had previously closed at $14.19.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MICC. Zacks Research downgraded shares of Magnum Ice Cream from a "hold" rating to a "strong sell" rating in a report on Thursday, March 5th. Weiss Ratings downgraded shares of Magnum Ice Cream from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, March 20th. Oddo Bhf began coverage on shares of Magnum Ice Cream in a report on Thursday, January 15th. They issued an "outperform" rating for the company. Berenberg Bank upgraded shares of Magnum Ice Cream to a "hold" rating in a report on Friday, February 27th. Finally, BNP Paribas Exane downgraded shares of Magnum Ice Cream to a "neutral" rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Magnum Ice Cream presently has an average rating of "Reduce".

Magnum Ice Cream Stock Performance

The stock's fifty day moving average is $15.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise acquired a new position in Magnum Ice Cream during the first quarter valued at approximately $37,000. Assenagon Asset Management S.A. lifted its position in Magnum Ice Cream by 182.2% during the first quarter. Assenagon Asset Management S.A. now owns 57,368 shares of the company's stock valued at $840,000 after buying an additional 37,040 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Magnum Ice Cream during the fourth quarter valued at approximately $237,000. Corient Private Wealth LLC acquired a new position in Magnum Ice Cream during the fourth quarter valued at approximately $1,468,000. Finally, Groupama Asset Managment acquired a new position in Magnum Ice Cream during the fourth quarter valued at approximately $562,000.

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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