Iconix Brand Group Inc. (ICON) Trading Down 1.8%
Shares of Iconix Brand Group Inc. (NASDAQ:ICON) traded down 1.8% during trading on Friday . The stock traded as low as $6.79 and last traded at $7.05, with a volume of 295,282 shares trading hands. The stock had previously closed at $7.18.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Iconix Brand Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 14th. Roth Capital restated a “buy” rating on shares of Iconix Brand Group in a research note on Tuesday, March 29th. One research 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’s stock. Iconix Brand Group presently has an average rating of “Hold” and a consensus target price of $16.46.
The stock’s market capitalization is $337.32 million. The stock’s 50-day moving average is $7.19 and its 200-day moving average is $7.46.
Iconix Brand Group (NASDAQ:ICON) last released its earnings results on Thursday, May 5th. The company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.12. The firm had revenue of $94.60 million for the quarter, compared to analysts’ expectations of $95.79 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities analysts anticipate that Iconix Brand Group Inc. will post $1.22 earnings per share for the current year.
In related news, Chairman F Peter Cuneo purchased 50,000 shares of the company’s stock in a transaction on Monday, May 9th. The shares were bought at an average cost of $7.99 per share, for a total transaction of $399,500.00. Following the completion of the purchase, the chairman now directly owns 310,838 shares of the company’s stock, valued at approximately $2,483,595.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Blumberg sold 11,000 shares of the 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 in the company, valued at $1,054,099.15. The disclosure for this sale can be found here.
Other institutional investors recently made changes to their positions in the company. State of New Jersey Common Pension Fund D raised 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 valued at $1,315,000 after buying an additional 10,000 shares in the last quarter. South Dakota Investment Council bought a new position in shares of Iconix Brand Group during the fourth quarter valued at approximately $1,893,000. Lapides Asset Management LLC raised its position 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 in the last quarter. Finally, OppenheimerFunds Inc. bought a new position in shares of Iconix Brand Group during the fourth quarter valued at approximately $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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