NewEdge Advisors LLC Sells 29,523 Shares of The Magnum Ice Cream Company N.V. $MICC

NewEdge Advisors LLC cut its holdings in The Magnum Ice Cream Company N.V. (NYSE:MICC) by 88.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,721 shares of the company’s stock after selling 29,523 shares during the period. NewEdge Advisors LLC’s holdings in Magnum Ice Cream were worth $56,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Public Employees Retirement System of Ohio lifted its position in Magnum Ice Cream by 2.9% during the first quarter. Public Employees Retirement System of Ohio now owns 41,816 shares of the company’s stock valued at $612,000 after purchasing an additional 1,159 shares in the last quarter. Keybank National Association OH raised its stake in shares of Magnum Ice Cream by 11.2% in the first 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 during the period. BNP Paribas bought a new position in shares of Magnum Ice Cream in the fourth quarter worth about $27,000. Credit Industriel ET Commercial lifted its position in shares of Magnum Ice Cream by 144.4% during the 1st quarter. Credit Industriel ET Commercial now owns 2,957 shares of the company’s stock valued at $43,000 after buying an additional 1,747 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Magnum Ice Cream during the 4th quarter valued at approximately $28,000.

Magnum Ice Cream Price Performance

Magnum Ice Cream stock opened at $20.11 on Friday. The company’s 50-day moving average price is $18.60 and its 200-day moving average price is $16.64. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.78 and a current ratio of 1.01. The Magnum Ice Cream Company N.V. has a twelve month low of $12.94 and a twelve month high of $20.49.

Magnum Ice Cream (NYSE:MICC) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.41 earnings per share for the quarter. The firm had revenue of $2.68 billion during the quarter. Analysts predict that The Magnum Ice Cream Company N.V. will post 1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of Magnum Ice Cream in a research report on Thursday, June 25th. Zacks Research upgraded Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Morgan Stanley reissued an “overweight” rating on shares of Magnum Ice Cream in a report on Wednesday, August 5th. Finally, Weiss Ratings raised Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Magnum Ice Cream 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.