Swiss National Bank Purchases 354,523 Shares of The Magnum Ice Cream Company N.V. $MICC

Swiss National Bank boosted its position in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC) by 26.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,695,991 shares of the company’s stock after purchasing an additional 354,523 shares during the period. Swiss National Bank’s holdings in Magnum Ice Cream were worth $24,854,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MICC. Compagnie Lombard Odier SCmA acquired a new position in shares of Magnum Ice Cream in the 4th quarter valued at approximately $3,008,000. Bank Pictet & Cie Europe AG bought a new stake in shares of Magnum Ice Cream during the 4th quarter worth approximately $197,000. Banque Pictet & Cie SA acquired a new stake in shares of Magnum Ice Cream during the 4th quarter worth approximately $729,000. Blue Trust Inc. acquired a new stake in shares of Magnum Ice Cream during the 4th quarter worth approximately $135,000. Finally, First Pacific Financial bought a new position in Magnum Ice Cream in the fourth quarter valued at approximately $42,000.

Magnum Ice Cream Trading Down 1.9%

Magnum Ice Cream stock opened at $17.73 on Friday. The company has a 50-day moving average price of $17.37. The Magnum Ice Cream Company N.V. has a 12 month low of $12.94 and a 12 month high of $19.93. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 5.23.

Wall Street Analyst Weigh In

Several brokerages have commented on MICC. BNP Paribas Exane downgraded shares of Magnum Ice Cream to a “neutral” rating in a research report on Tuesday, April 21st. Morgan Stanley reiterated an “overweight” rating on shares of Magnum Ice Cream in a research note on Monday, June 29th. Weiss Ratings upgraded Magnum Ice Cream from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 16th. Jefferies Financial Group reissued a “hold” rating on shares of Magnum Ice Cream in a research note on Thursday, June 25th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold”.

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.