Norges Bank Makes New Investment in The Magnum Ice Cream Company N.V. $MICC

Norges Bank purchased a new position in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC) during the fourth quarter, Holdings Channel reports. The fund purchased 10,906,091 shares of the company’s stock, valued at approximately $173,632,000.

A number of other large investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new position in Magnum Ice Cream during the fourth quarter worth $28,000. Bartlett & CO. Wealth Management LLC acquired a new position in Magnum Ice Cream during the fourth quarter worth $30,000. Leonteq Securities AG acquired a new position in Magnum Ice Cream during the fourth quarter worth $30,000. V Square Quantitative Management LLC acquired a new position in Magnum Ice Cream during the fourth quarter worth $33,000. Finally, Larson Financial Group LLC acquired a new position in Magnum Ice Cream during the fourth quarter worth $37,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Zacks Research upgraded Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group cut Magnum Ice Cream from a “neutral” rating to a “sell” rating in a research note on Friday, March 20th. Weiss Ratings cut Magnum Ice Cream from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. Berenberg Bank upgraded Magnum Ice Cream to a “hold” rating in a research note on Friday, February 27th. Finally, BNP Paribas Exane cut Magnum Ice Cream to a “neutral” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Magnum Ice Cream currently has a consensus rating of “Reduce”.

Magnum Ice Cream Stock Performance

NYSE:MICC opened at $16.72 on Thursday. The company has a fifty day simple moving average of $14.86. The Magnum Ice Cream Company N.V. has a 12 month low of $12.94 and a 12 month high of $19.93.

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.