Iconix Brand Group Inc. (ICON) Stock Price Up 5.4%
Iconix Brand Group Inc. (NASDAQ:ICON)’s share price rose 5.4% during trading on Wednesday . The stock traded as high as $7.17 and last traded at $7.16, with a volume of 441,395 shares changing hands. The stock had previously closed at $6.79.
ICON has been the topic of several research analyst reports. Roth Capital reiterated a “buy” rating on shares of Iconix Brand Group in a research note on Tuesday, March 29th. Zacks Investment Research upgraded Iconix Brand Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 2nd. One 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 currently has a consensus rating of “Hold” and a consensus target price of $16.46.
The stock’s 50 day moving average price is $7.19 and its 200 day moving average price is $7.46. The firm’s market cap is $348.48 million.
Iconix Brand Group (NASDAQ:ICON) last announced its earnings results on Thursday, May 5th. The company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.12. The business had revenue of $94.60 million for the quarter, compared to the consensus estimate of $95.79 million. Iconix Brand Group’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. Equities analysts forecast that Iconix Brand Group Inc. will post $1.22 earnings per share for the current fiscal year.
In other Iconix Brand Group news, EVP David Blumberg sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $7.61, for a total transaction of $83,710.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman F Peter Cuneo bought 50,000 shares of the firm’s stock in a transaction on Monday, May 9th. The shares were acquired at an average cost of $7.99 per share, with a total value of $399,500.00. Following the purchase, the chairman now directly owns 310,838 shares of the company’s stock, valued at approximately $2,483,595.62. The disclosure for this purchase can be found here.
Other large investors have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D increased its stake 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 valued at $1,315,000 after buying an additional 10,000 shares during the period. South Dakota Investment Council purchased a new stake in shares of Iconix Brand Group during the fourth quarter valued at $1,893,000. 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 period. Finally, OppenheimerFunds Inc. purchased a new stake in shares of Iconix Brand Group during the fourth quarter valued at $22,878,000.
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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