The Magnum Ice Cream Company N.V. (NYSE:MICC) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of The Magnum Ice Cream Company N.V. (NYSE:MICC) have been given a consensus rating of “Reduce” by the six brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company.

MICC has been the topic of several analyst reports. Berenberg Bank upgraded Magnum Ice Cream to a “hold” rating in a research note on Friday, February 27th. Weiss Ratings downgraded Magnum Ice Cream from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, June 1st. Zacks Research upgraded Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group downgraded Magnum Ice Cream from a “neutral” rating to a “sell” rating in a research note on Friday, March 20th. Finally, BNP Paribas Exane downgraded Magnum Ice Cream to a “neutral” rating in a research note on Tuesday, April 21st.

Hedge Funds Weigh In On Magnum Ice Cream

Several institutional investors and hedge funds have recently added to or reduced their stakes in MICC. FIL Ltd acquired a new position in Magnum Ice Cream during the 4th quarter worth approximately $360,762,000. Vanguard Group Inc. acquired a new position in Magnum Ice Cream during the 4th quarter worth approximately $344,031,000. First Eagle Investment Management LLC acquired a new position in Magnum Ice Cream during the 4th quarter worth approximately $260,541,000. Norges Bank acquired a new position in Magnum Ice Cream during the 4th quarter worth approximately $173,632,000. Finally, Barclays PLC acquired a new position in Magnum Ice Cream during the 4th quarter worth approximately $156,326,000.

Magnum Ice Cream Trading Up 2.7%

Shares of MICC stock opened at $17.44 on Wednesday. The company has a 50 day moving average of $15.05. Magnum Ice Cream has a twelve month low of $12.94 and a twelve month high of $19.93.

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.