Ameriprise Financial Inc. decreased its position in Iconix Brand Group, Inc. (NASDAQ:ICON) by 98.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 298,224 shares of the brand management company’s stock after selling 20,201,657 shares during the period. Ameriprise Financial Inc. owned approximately 0.52% of Iconix Brand Group worth $1,697,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cubist Systematic Strategies LLC lifted its stake in Iconix Brand Group by 20.8% during the second quarter. Cubist Systematic Strategies LLC now owns 16,258 shares of the brand management company’s stock valued at $112,000 after purchasing an additional 2,797 shares during the last quarter. AHL Partners LLP acquired a new stake in Iconix Brand Group during the second quarter valued at approximately $118,000. Public Employees Retirement System of Ohio lifted its stake in Iconix Brand Group by 5.2% during the second quarter. Public Employees Retirement System of Ohio now owns 17,869 shares of the brand management company’s stock valued at $123,000 after purchasing an additional 876 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in Iconix Brand Group during the second quarter valued at approximately $142,000. Finally, Voya Investment Management LLC lifted its stake in Iconix Brand Group by 21.4% during the second quarter. Voya Investment Management LLC now owns 24,215 shares of the brand management company’s stock valued at $167,000 after purchasing an additional 4,274 shares during the last quarter. Hedge funds and other institutional investors own 84.78% of the company’s stock.
Several equities research analysts recently commented on the stock. Roth Capital set a $2.00 price target on shares of Iconix Brand Group and gave the company a “hold” rating in a research report on Thursday, December 7th. Zacks Investment Research downgraded shares of Iconix Brand Group from a “hold” rating to a “sell” rating in a research report on Friday, December 22nd. FBR & Co downgraded shares of Iconix Brand Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $8.50 to $4.00 in a research report on Monday, October 30th. B. Riley restated a “neutral” rating and issued a $4.00 price target (down previously from $8.50) on shares of Iconix Brand Group in a research report on Wednesday, November 1st. Finally, ValuEngine upgraded shares of Iconix Brand Group from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Iconix Brand Group presently has an average rating of “Hold” and a consensus price target of $5.00.
Iconix Brand Group (NASDAQ:ICON) last announced its quarterly earnings results on Friday, December 22nd. The brand management company reported $0.24 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. Iconix Brand Group had a negative net margin of 311.99% and a positive return on equity of 17.65%. equities analysts expect that Iconix Brand Group, Inc. will post 0.65 earnings per share for the current year.
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Iconix Brand Group Profile
Iconix Brand Group, Inc is a brand management company. As of December 31, 2016, the Company owned a portfolio of over 30 global consumer brands across women’s, men’s, and home categories. The Company operates through segments: men’s, women’s, home and international. The Company’s brand portfolio includes brands, such as Candie’s, Bongo, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific/OP, Danskin/Danskin Now, Rocawear/Roc Nation, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Ecko Unltd/Mark Ecko Cut & Sew, Zoo York, Umbro, Lee Cooper and Artful Dodger, and interests in Material Girl, Ed Hardy, Truth or Dare, Modern Amusement, Buffalo, Nick Graham Hydraulic and PONY brands.
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