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

Zacks Research lowered shares of Magnum Ice Cream (NYSE:MICC) from a hold rating to a strong sell rating in a report released on Thursday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Berenberg Bank raised Magnum Ice Cream to a “hold” rating in a report on Friday, February 27th. Oddo Bhf started coverage on Magnum Ice Cream in a report on Thursday, January 15th. They set an “outperform” rating on the stock. Finally, Weiss Ratings started coverage on Magnum Ice Cream in a report on Thursday. They issued a “hold (c)” rating for the company. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Magnum Ice Cream Stock Up 0.3%

Shares of MICC stock opened at $15.27 on Thursday. Magnum Ice Cream has a one year low of $14.45 and a one year high of $19.93.

Institutional Inflows and Outflows

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