NewEdge Advisors LLC Sells 29,523 Shares of The Magnum Ice Cream Company N.V. $MICC

NewEdge Advisors LLC lowered its stake in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC) by 88.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,721 shares of the company’s stock after selling 29,523 shares during the period. NewEdge Advisors LLC’s holdings in Magnum Ice Cream were worth $56,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas bought a new position in shares of Magnum Ice Cream in the 4th quarter worth $27,000. Cullen Frost Bankers Inc. bought a new stake in Magnum Ice Cream during the fourth quarter valued at about $28,000. Leonteq Securities AG bought a new stake in Magnum Ice Cream during the fourth quarter valued at about $30,000. Acumen Wealth Advisors LLC purchased a new position in Magnum Ice Cream in the fourth quarter valued at about $35,000. Finally, Larson Financial Group LLC bought a new position in Magnum Ice Cream in the fourth quarter worth about $37,000.

Analyst Ratings Changes

MICC has been the topic of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating on shares of Magnum Ice Cream in a report on Wednesday, August 5th. Weiss Ratings raised shares of Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 30th. Zacks Research upgraded shares of Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Magnum Ice Cream in a report on Thursday, June 25th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Magnum Ice Cream currently has a consensus rating of “Hold”.

Magnum Ice Cream Price Performance

MICC stock opened at $20.11 on Friday. The firm has a 50 day moving average of $18.60 and a 200 day moving average of $16.64. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 3.10. The Magnum Ice Cream Company N.V. has a 52 week low of $12.94 and a 52 week high of $20.49.

Magnum Ice Cream (NYSE:MICC) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.41 earnings per share (EPS) for the quarter. The company had revenue of $2.68 billion for the quarter. Equities analysts predict that The Magnum Ice Cream Company N.V. will post 1.1 EPS for the current fiscal year.

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.