Iconix Brand Group Inc. (ICON) Shares Up 3.3%
Iconix Brand Group Inc. (NASDAQ:ICON) shot up 3.3% on Thursday . The stock traded as high as $6.65 and last traded at $6.62, with a volume of 1,555,934 shares traded. The stock had previously closed at $6.41.
Several brokerages have recently weighed in on ICON. Zacks Investment Research lowered Iconix Brand Group from a “hold” rating to a “sell” rating in a research report on Wednesday, June 8th. Roth Capital reissued a “buy” rating on shares of Iconix Brand Group in a research report on Tuesday, March 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $16.46.
The company has a 50-day moving average of $7.34 and a 200-day moving average of $7.45. The stock’s market cap is $331.98 million.
Iconix Brand Group (NASDAQ:ICON) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.12. During the same period last year, the firm posted $0.54 EPS. The firm had revenue of $94.60 million for the quarter, compared to analysts’ expectations of $95.79 million. Iconix Brand Group’s revenue was down 1.3% on a year-over-year basis. On average, equities research analysts expect that Iconix Brand Group Inc. will post $1.22 EPS for the current year.
In other news, EVP David Blumberg sold 11,000 shares of the company’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $7.61, for a total value of $83,710.00. Following the completion of the sale, the executive vice president now owns 138,515 shares of the company’s stock, valued at $1,054,099.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman F Peter Cuneo bought 50,000 shares of the firm’s stock in a transaction dated Monday, May 9th. The stock was bought at an average cost of $7.99 per share, with a total value of $399,500.00. Following the transaction, the chairman now directly owns 310,838 shares of the company’s stock, valued at $2,483,595.62. The disclosure for this purchase can be found here.
Several large investors recently modified their holdings of the company. Lapides Asset Management LLC increased its stake in shares of Iconix Brand Group by 8.8% in the fourth quarter. Lapides Asset Management LLC now owns 559,000 shares of the company’s stock valued at $3,818,000 after buying an additional 45,400 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Iconix Brand Group by 5.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 192,500 shares of the company’s stock worth $1,315,000 after buying an additional 10,000 shares in the last quarter. South Dakota Investment Council acquired a new position in shares of Iconix Brand Group during the fourth quarter worth approximately $1,893,000. OppenheimerFunds Inc. acquired a new position in shares of Iconix Brand Group during the fourth quarter worth approximately $22,878,000. Finally, Oxford Asset Management increased its position in shares of 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 in the last quarter.
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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