Texas Permanent School Fund raised its stake in shares of Iconix Brand Group, Inc. (NASDAQ:ICON) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,661 shares of the brand management company’s stock after buying an additional 1,024 shares during the period. Texas Permanent School Fund owned about 0.07% of Iconix Brand Group worth $288,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Louisiana State Employees Retirement System raised its position in shares of Iconix Brand Group by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the brand management company’s stock worth $172,000 after buying an additional 300 shares during the last quarter. First Midwest Bank Trust Division boosted its stake in shares of Iconix Brand Group by 4.3% in the first quarter. First Midwest Bank Trust Division now owns 16,360 shares of the brand management company’s stock worth $123,000 after buying an additional 667 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Iconix Brand Group by 454.7% in the first quarter. Wells Fargo & Company MN now owns 103,814 shares of the brand management company’s stock worth $781,000 after buying an additional 85,098 shares during the period. Capital Fund Management S.A. acquired a new stake in shares of Iconix Brand Group during the first quarter worth about $108,000. Finally, Solaris Asset Management LLC boosted its stake in shares of Iconix Brand Group by 8.3% in the first quarter. Solaris Asset Management LLC now owns 33,053 shares of the brand management company’s stock worth $249,000 after buying an additional 2,530 shares during the period. 82.89% of the stock is currently owned by institutional investors.

Shares of Iconix Brand Group, Inc. (ICON) opened at 5.58 on Wednesday. The company’s market capitalization is $318.57 million. Iconix Brand Group, Inc. has a 1-year low of $4.79 and a 1-year high of $10.80. The firm’s 50-day moving average is $6.10 and its 200-day moving average is $6.95.

Iconix Brand Group (NASDAQ:ICON) last released its quarterly earnings results on Wednesday, August 9th. The brand management company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.17 by $0.09. The company had revenue of $64.60 million for the quarter, compared to analyst estimates of $61 million. Iconix Brand Group had a positive return on equity of 10.38% and a negative net margin of 82.22%. The firm’s revenue was down 32.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. Analysts forecast that Iconix Brand Group, Inc. will post $0.67 earnings per share for the current fiscal year.

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Several equities research analysts have weighed in on ICON shares. FBR & Co reissued an “outperform” rating and set a $8.50 price target on shares of Iconix Brand Group in a research report on Tuesday, July 11th. Roth Capital set a $13.00 price target on shares of Iconix Brand Group and gave the company a “buy” rating in a research report on Thursday, May 11th. BidaskClub cut shares of Iconix Brand Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised shares of Iconix Brand Group from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Finally, Cowen and Company set a $9.00 price target on shares of Iconix Brand Group and gave the company a “hold” rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.00.

About Iconix Brand Group

Iconix Brand Group, Inc is a brand management company. As of December 31, 2016, the Company owned a portfolio of over 30 global consumer brands across women’s, men’s, and home categories. The Company operates through segments: men’s, women’s, home and international. The Company’s brand portfolio includes brands, such as Candie’s, Bongo, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific/OP, Danskin/Danskin Now, Rocawear/Roc Nation, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Ecko Unltd/Mark Ecko Cut & Sew, Zoo York, Sharper Image, Umbro, Lee Cooper and Artful Dodger, and interests in Material Girl, Ed Hardy, Truth or Dare, Modern Amusement, Buffalo, Nick Graham Hydraulic and PONY brands.

Institutional Ownership by Quarter for Iconix Brand Group (NASDAQ:ICON)

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