Magnum Ice Cream (NYSE:MICC) Shares Gap Up – Still a Buy?

The Magnum Ice Cream Company N.V. (NYSE:MICC)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $13.06, but opened at $14.21. Magnum Ice Cream shares last traded at $14.3170, with a volume of 346,471 shares changing hands.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Oddo Bhf assumed coverage on Magnum Ice Cream in a research note on Thursday, January 15th. They set an “outperform” rating for the company. Berenberg Bank upgraded Magnum Ice Cream to a “hold” rating in a research note on Friday, February 27th. Zacks Research downgraded Magnum Ice Cream from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. BNP Paribas Exane lowered Magnum Ice Cream to a “neutral” rating in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group cut Magnum Ice Cream from a “neutral” rating to a “sell” rating in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Magnum Ice Cream Stock Up 12.4%

The stock has a 50-day simple moving average of $14.80.

Hedge Funds Weigh In On Magnum Ice Cream

A number of hedge funds have recently modified their holdings of the stock. Credit Industriel ET Commercial raised its holdings in shares of Magnum Ice Cream by 144.4% in the 1st quarter. Credit Industriel ET Commercial now owns 2,957 shares of the company’s stock worth $43,000 after buying an additional 1,747 shares in the last quarter. Kennon Green & Company LLC raised its holdings in shares of Magnum Ice Cream by 6.5% in the 1st quarter. Kennon Green & Company LLC now owns 45,982 shares of the company’s stock worth $687,000 after buying an additional 2,787 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Magnum Ice Cream in the 1st quarter worth approximately $1,166,000. Keybank National Association OH raised its holdings in shares of Magnum Ice Cream by 11.2% in the 1st quarter. Keybank National Association OH now owns 13,761 shares of the company’s stock worth $206,000 after buying an additional 1,387 shares in the last quarter. Finally, Pzena Investment Management LLC acquired a new position in shares of Magnum Ice Cream in the 1st quarter worth approximately $105,191,000.

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.