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

The Magnum Ice Cream Company N.V. (NYSE:MICC) has been given a consensus rating of “Reduce” by the six brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company.

Several research analysts have weighed in on MICC shares. BNP Paribas Exane cut shares of Magnum Ice Cream to a “neutral” rating in a report on Tuesday, April 21st. The Goldman Sachs Group cut shares of Magnum Ice Cream from a “neutral” rating to a “sell” rating in a research report on Friday, March 20th. Weiss Ratings raised Magnum Ice Cream from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Zacks Research upgraded shares of Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Berenberg Bank upgraded shares of Magnum Ice Cream to a “hold” rating in a report on Friday, February 27th.

Magnum Ice Cream Stock Up 4.0%

MICC opened at $16.12 on Friday. Magnum Ice Cream has a 12-month low of $12.94 and a 12-month high of $19.93. The company has a 50 day simple moving average of $14.66.

Hedge Funds Weigh In On Magnum Ice Cream

Hedge funds have recently bought and sold shares of the company. FIL Ltd bought a new position in shares of Magnum Ice Cream in the 4th quarter worth about $360,762,000. Vanguard Group Inc. bought a new position in shares of Magnum Ice Cream in the 4th quarter worth $344,031,000. First Eagle Investment Management LLC acquired a new position in shares of Magnum Ice Cream during the fourth quarter valued at about $260,541,000. Norges Bank acquired a new position in Magnum Ice Cream during the 4th quarter valued at about $173,632,000. Finally, Barclays PLC bought a new stake in Magnum Ice Cream during the fourth quarter worth $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.