Magnum Ice Cream (NYSE:MICC) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Magnum Ice Cream (NYSE:MICC) from a "strong sell" to a "hold."
• Major institutions added big new stakes in Q4 — notably FIL Ltd ($360.8M), Vanguard ($344.0M), First Eagle ($260.5M), Norges Bank ($173.6M) and Barclays ($156.3M).
• Analyst consensus is mixed (1 Buy, 3 Hold, 2 Sell) with an average MarketBeat rating of "Reduce"; the stock opened at $15.09, with a 50‑day MA of $14.72 and a 1‑year range of $12.94–$19.93.

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

A number of other equities research analysts have also recently issued reports on the stock. BNP Paribas Exane cut shares of Magnum Ice Cream to a "neutral" rating in a research note on Tuesday, April 21st. Berenberg Bank raised shares of Magnum Ice Cream to a "hold" rating in a research note on Friday, February 27th. The Goldman Sachs Group cut shares of Magnum Ice Cream from a "neutral" rating to a "sell" rating in a research note on Friday, March 20th. Weiss Ratings cut shares of Magnum Ice Cream from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday, March 20th. Finally, Oddo Bhf started coverage on shares of Magnum Ice Cream in a research note on Thursday, January 15th. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Magnum Ice Cream has an average rating of "Reduce".

Magnum Ice Cream Stock Performance

Magnum Ice Cream stock opened at $15.09 on Tuesday. The company has a fifty day moving average of $14.72. Magnum Ice Cream has a 1 year low of $12.94 and a 1 year high of $19.93.

Institutional Investors Weigh In On Magnum Ice Cream

Several institutional investors and hedge funds have recently added to or reduced their stakes in MICC. FIL Ltd acquired a new stake in Magnum Ice Cream during the 4th quarter worth $360,762,000. Vanguard Group Inc. acquired a new stake in Magnum Ice Cream during the 4th quarter worth $344,031,000. First Eagle Investment Management LLC acquired a new stake in Magnum Ice Cream during the 4th quarter worth $260,541,000. Norges Bank acquired a new stake in Magnum Ice Cream during the 4th quarter worth $173,632,000. Finally, Barclays PLC acquired a new stake in Magnum Ice Cream during the 4th quarter worth $156,326,000.

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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