Magnum Ice Cream (NYSE:MICC) Shares Gap Up – Here’s What Happened

The Magnum Ice Cream Company N.V. (NYSE:MICC) shares gapped up prior to trading on Friday . The stock had previously closed at $15.02, but opened at $16.98. Magnum Ice Cream shares last traded at $16.8350, with a volume of 1,956,194 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MICC. The Goldman Sachs Group lowered Magnum Ice Cream from a “neutral” rating to a “sell” rating in a report on Friday, March 20th. BNP Paribas Exane cut Magnum Ice Cream to a “neutral” rating in a research report on Tuesday, April 21st. Zacks Research raised Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings cut Magnum Ice Cream from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, March 20th. Finally, Oddo Bhf started coverage on Magnum Ice Cream in a research report on Thursday, January 15th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Magnum Ice Cream Stock Up 9.4%

The stock’s fifty day moving average price is $14.61.

Hedge Funds Weigh In On Magnum Ice Cream

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