Pzena Investment Management LLC Acquires 815,283 Shares of The Magnum Ice Cream Company N.V. $MICC

Pzena Investment Management LLC lifted its holdings in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC) by 6.2% in the third quarter, HoldingsChannel.com reports. The firm owned 14,014,899 shares of the company’s stock after acquiring an additional 815,283 shares during the quarter. Pzena Investment Management LLC’s holdings in Magnum Ice Cream were worth $249,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Guardian Partners Inc. acquired a new stake in shares of Magnum Ice Cream during the third quarter valued at about $46,000. Mather Group LLC. raised its stake in shares of Magnum Ice Cream by 106.9% in the 3rd quarter. Mather Group LLC. now owns 3,149 shares of the company’s stock valued at $56,000 after acquiring an additional 1,627 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Magnum Ice Cream in the 2nd quarter valued at approximately $92,000. Cardinal Capital Management acquired a new position in shares of Magnum Ice Cream in the 3rd quarter worth approximately $172,000. Finally, Group One Trading LLC acquired a new position in shares of Magnum Ice Cream in the 1st quarter worth approximately $178,000.

Magnum Ice Cream Price Performance

MICC opened at $20.12 on Thursday. The Magnum Ice Cream Company N.V. has a 12 month low of $12.94 and a 12 month high of $20.68. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.01 and a quick ratio of 0.78. The business has a fifty day moving average price of $18.95 and a 200 day moving average price of $17.25.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MICC shares. Morgan Stanley reiterated an “overweight” rating on shares of Magnum Ice Cream in a report on Wednesday, August 5th. Jefferies Financial Group restated a “hold” rating on shares of Magnum Ice Cream in a research note on Tuesday, October 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Magnum Ice Cream in a research note on Wednesday, October 28th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Magnum Ice Cream in a research report on Wednesday, September 9th. Finally, Citigroup started coverage on Magnum Ice Cream in a research note on Tuesday, September 15th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

About Magnum Ice Cream

Magnum Ice Cream N.V. is a global ice cream company formed through the separation of Unilever’s ice cream business. The company develops, manufactures and markets packaged ice cream products across multiple categories, including indulgent treats, family ice cream and everyday refreshment products.

Its portfolio includes well-known brands such as Magnum, Wall’s, Ben & Jerry’s, Cornetto, Carte d’Or, Solero and Breyers, although brand availability varies by market. Products are sold through retail, convenience, food-service and other distribution channels in markets around the world.

Magnum Ice Cream is headquartered in Amsterdam, the Netherlands.