Wells Fargo & Company MN lessened its position in Iconix Brand Group, Inc. (NASDAQ:ICON) by 37.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,638 shares of the brand management company’s stock after selling 39,176 shares during the quarter. Wells Fargo & Company MN owned about 0.11% of Iconix Brand Group worth $447,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System lifted its position in shares of Iconix Brand Group by 3.9% in the first quarter. New York State Teachers Retirement System now owns 122,036 shares of the brand management company’s stock valued at $918,000 after acquiring an additional 4,600 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Iconix Brand Group by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 23,200 shares of the brand management company’s stock valued at $160,000 after acquiring an additional 300 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Iconix Brand Group by 3.6% in the first quarter. Principal Financial Group Inc. now owns 426,624 shares of the brand management company’s stock valued at $3,208,000 after acquiring an additional 14,997 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of Iconix Brand Group by 2.5% in the second quarter. Texas Permanent School Fund now owns 41,661 shares of the brand management company’s stock valued at $288,000 after acquiring an additional 1,024 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Iconix Brand Group by 17.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 690,779 shares of the brand management company’s stock valued at $4,774,000 after acquiring an additional 101,212 shares in the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.

Shares of Iconix Brand Group, Inc. (ICON) opened at $1.83 on Tuesday. Iconix Brand Group, Inc. has a fifty-two week low of $1.44 and a fifty-two week high of $10.80. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $102.74, a P/E ratio of 1.73 and a beta of 1.30.

ILLEGAL ACTIVITY WARNING: This story was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/11/14/wells-fargo-company-mn-decreases-stake-in-iconix-brand-group-inc-icon.html.

Several research firms have recently weighed in on ICON. B. Riley restated a “neutral” rating and issued a $4.00 target price (down previously from $8.50) on shares of Iconix Brand Group in a research report on Wednesday, November 1st. Roth Capital downgraded Iconix Brand Group from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research report on Monday, October 30th. FBR & Co downgraded Iconix Brand Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $8.50 to $4.00 in a research report on Monday, October 30th. Sidoti initiated coverage on Iconix Brand Group in a report on Tuesday, September 19th. They issued a “neutral” rating and a $6.00 price target for the company. Finally, Cowen and Company set a $9.00 price target on Iconix Brand Group and gave the company a “hold” rating in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $5.00.

Iconix Brand Group Profile

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, 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.

Want to see what other hedge funds are holding ICON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iconix Brand Group, Inc. (NASDAQ:ICON).

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

Receive News & Stock Ratings for Iconix Brand Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iconix Brand Group Inc. and related stocks with our FREE daily email newsletter.