The Magnum Ice Cream Company N.V. (NYSE:MICC) Receives Average Rating of "Reduce" from Analysts

Key Points

• Average analyst rating "Reduce": Six analysts give MICC an average recommendation of "Reduce" (three sell, two hold, one buy), with recent downgrades from Goldman Sachs, Weiss Ratings and Zacks.
• Large institutional buying: FIL Ltd, Vanguard, First Eagle, Norges Bank and Barclays each initiated sizable new stakes in Q4, with reported positions roughly between $156 million and $361 million.
• Share price near 52‑week low: MICC opened at $14.21, trading close to its 52‑week low of $13.96 (52‑week high $19.93) and a 50‑day moving average of $15.38.

Shares of The Magnum Ice Cream Company N.V. (NYSE:MICC - Get Free Report) have been given an average recommendation of "Reduce" by the six ratings firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company.

Several equities research analysts recently issued reports on MICC shares. BNP Paribas Exane downgraded shares of Magnum Ice Cream to a "neutral" rating in a research note on Tuesday. Weiss Ratings lowered shares of Magnum Ice Cream from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, March 20th. Zacks Research lowered shares of Magnum Ice Cream from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 5th. Berenberg Bank raised shares of Magnum Ice Cream to a "hold" rating in a research report on Friday, February 27th. Finally, The Goldman Sachs Group cut Magnum Ice Cream from a "neutral" rating to a "sell" rating in a research note on Friday, March 20th.

Magnum Ice Cream Price Performance

Shares of NYSE:MICC opened at $14.21 on Tuesday. Magnum Ice Cream has a 52-week low of $13.96 and a 52-week high of $19.93. The firm has a 50-day moving average price of $15.38.

Institutional Investors Weigh In On Magnum Ice Cream

Several institutional investors have recently made changes to their positions in MICC. FIL Ltd bought a new stake in shares of Magnum Ice Cream in the fourth quarter valued at approximately $360,762,000. Vanguard Group Inc. bought a new stake in shares of Magnum Ice Cream in the fourth quarter valued at approximately $344,031,000. First Eagle Investment Management LLC bought a new stake in shares of Magnum Ice Cream in the fourth quarter valued at approximately $260,541,000. Norges Bank bought a new stake in shares of Magnum Ice Cream in the fourth quarter valued at approximately $173,632,000. Finally, Barclays PLC acquired a new position in shares of Magnum Ice Cream in the 4th quarter valued at approximately $156,326,000.

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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