Magnum Ice Cream (NYSE:MICC) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Magnum Ice Cream (NYSE:MICC) from a hold rating to a strong sell rating in a report issued on Thursday,Zacks.com reports.

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

Magnum Ice Cream Trading Up 0.3%

NYSE:MICC traded up $0.05 during trading hours on Thursday, hitting $15.27. 712,264 shares of the stock were exchanged, compared to its average volume of 1,650,051. Magnum Ice Cream has a 52-week low of $14.45 and a 52-week high of $19.93.

Hedge Funds Weigh In On Magnum Ice Cream

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas purchased a new stake in shares of Magnum Ice Cream in the fourth quarter valued at about $27,000. Cullen Frost Bankers Inc. purchased a new position in shares of Magnum Ice Cream in the fourth quarter valued at approximately $28,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Magnum Ice Cream in the fourth quarter worth $30,000. Leonteq Securities AG acquired a new stake in Magnum Ice Cream in the 4th quarter valued at about $30,000. Finally, V Square Quantitative Management LLC acquired a new stake in Magnum Ice Cream in the fourth quarter valued at approximately $33,000.

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.