Iconix Brand Group Inc. (ICON) Stock Price Down 7.7%
Iconix Brand Group Inc. (NASDAQ:ICON) dropped 7.7% on Tuesday . The stock traded as low as $6.30 and last traded at $6.33, with a volume of 771,215 shares trading hands. The stock had previously closed at $6.86.
ICON has been the subject of several recent research reports. Roth Capital reissued a “buy” rating on shares of Iconix Brand Group in a research note on Tuesday, March 29th. Zacks Investment Research raised Iconix Brand Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $16.46.
The stock has a 50-day moving average of $7.39 and a 200 day moving average of $7.46. The stock’s market cap is $311.23 million.
Iconix Brand Group (NASDAQ:ICON) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.12. During the same period last year, the firm earned $0.54 EPS. The firm had revenue of $94.60 million for the quarter, compared to the consensus estimate of $95.79 million. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities research analysts expect that Iconix Brand Group Inc. will post $1.22 EPS for the current year.
In other Iconix Brand Group news, EVP David Blumberg sold 20,830 shares of Iconix Brand Group stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $8.27, for a total transaction of $172,264.10. Following the completion of the sale, the executive vice president now owns 149,515 shares of the company’s stock, valued at $1,236,489.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman F Peter Cuneo purchased 50,000 shares of the company’s stock in a transaction on Monday, May 9th. The shares were purchased at an average cost of $7.99 per share, with a total value of $399,500.00. Following the purchase, the chairman now owns 310,838 shares of the company’s stock, valued at $2,483,595.62. The disclosure for this purchase can be found here.
Other large investors have recently modified their holdings of the company. OppenheimerFunds Inc. purchased a new stake in shares of Iconix Brand Group during the fourth quarter valued at about $22,878,000. South Dakota Investment Council bought a new stake in Iconix Brand Group during the fourth quarter worth $1,893,000. Oxford Asset Management raised its stake in Iconix Brand Group by 165.7% in the fourth quarter. Oxford Asset Management now owns 333,056 shares of the company’s stock worth $2,038,000 after buying an additional 207,691 shares during the period. Lapides Asset Management LLC raised its stake in Iconix Brand Group by 8.8% in the fourth quarter. Lapides Asset Management LLC now owns 559,000 shares of the company’s stock worth $3,818,000 after buying an additional 45,400 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Iconix Brand Group by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 318,529 shares of the company’s stock worth $2,176,000 after buying an additional 14,856 shares during the period.
Iconix Brand Group, Inc is a brand management company and owner of a diversified portfolio of 35 global consumer brands across women’s, men’s, entertainment and home. The Company’s brand portfolio includes Candie’s, Bongo, Badgley Mischka, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific (OP), Danskin, Rocawear, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Zoo York, Sharper Image, Umbro, Lee Cooper, Ecko Unltd., Marc Ecko and Strawberry Shortcake.
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