Zacks Research Downgrades Magnum Ice Cream (NYSE:MICC) to Strong Sell

Magnum Ice Cream (NYSE:MICC) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other brokerages have also recently weighed in on MICC. Berenberg Bank upgraded Magnum Ice Cream to a “hold” rating in a report on Friday, February 27th. Weiss Ratings initiated coverage on shares of Magnum Ice Cream in a research report on Thursday. They issued a “hold (c)” rating for the company. Finally, Oddo Bhf started coverage on Magnum Ice Cream in a report on Thursday, January 15th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Magnum Ice Cream Stock Performance

MICC opened at $15.27 on Thursday. Magnum Ice Cream has a 12 month low of $14.45 and a 12 month high of $19.93.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Groupama Asset Managment bought a new stake in Magnum Ice Cream during the 4th quarter worth approximately $562,000. Anchor Investment Management LLC purchased a new stake in Magnum Ice Cream during the fourth quarter valued at about $120,000. Virtu Financial LLC bought a new stake in Magnum Ice Cream during the 4th quarter valued at $175,000. Invesco Ltd. bought a new stake in shares of Magnum Ice Cream during the fourth quarter valued at about $48,086,000. Finally, Corient Private Wealth LLC purchased a new position in shares of Magnum Ice Cream during the 4th quarter valued at $1,486,000.

About Magnum Ice Cream

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.