Magnum Ice Cream (NYSE:MICC) Hits New 52-Week Low – Should You Sell?

The Magnum Ice Cream Company N.V. (NYSE:MICC) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $13.96 and last traded at $14.0990, with a volume of 309038 shares. The stock had previously closed at $14.46.

Analyst Ratings Changes

MICC has been the topic of several recent research reports. Zacks Research downgraded shares of Magnum Ice Cream from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. The Goldman Sachs Group downgraded shares of Magnum Ice Cream from a “neutral” rating to a “sell” rating in a report on Friday, March 20th. Berenberg Bank raised shares of Magnum Ice Cream to a “hold” rating in a report on Friday, February 27th. Oddo Bhf began coverage on shares of Magnum Ice Cream in a report on Thursday, January 15th. They set an “outperform” rating on the stock. Finally, 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. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Magnum Ice Cream presently has an average rating of “Reduce”.

Magnum Ice Cream Stock Performance

The stock’s 50-day moving average is $15.74.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. FIL Ltd purchased a new position in shares of Magnum Ice Cream in the fourth quarter worth $360,762,000. Vanguard Group Inc. purchased a new position in shares of Magnum Ice Cream in the fourth quarter worth $344,031,000. First Eagle Investment Management LLC purchased a new position in shares of Magnum Ice Cream in the fourth quarter worth $260,541,000. Norges Bank purchased a new position in shares of Magnum Ice Cream in the fourth quarter worth $173,632,000. Finally, Barclays PLC purchased a new position in shares of Magnum Ice Cream in the fourth 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.