Iconix Brand Group Inc. (NASDAQ:ICON) shares dropped 4.5% during trading on Tuesday . The stock traded as low as $6.75 and last traded at $6.80, with a volume of 504,965 shares changing hands. The stock had previously closed at $7.12.

Separately, Zacks Investment Research raised shares of Iconix Brand Group from a “sell” rating to a “hold” rating in a report on Thursday, June 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Iconix Brand Group presently has a consensus rating of “Hold” and an average target price of $16.46.

The company’s market cap is $327.13 million. The firm’s 50 day moving average is $7.01 and its 200-day moving average is $7.55.

Iconix Brand Group (NASDAQ:ICON) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.12. The company had revenue of $94.60 million for the quarter, compared to analysts’ expectations of $95.79 million. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts expect that Iconix Brand Group Inc. will post $1.11 earnings per share for the current year.

In other Iconix Brand Group news, EVP David Blumberg sold 20,830 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were 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 directly 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 can be accessed through this link. Also, Chairman F Peter Cuneo bought 50,000 shares of Iconix Brand Group 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 completion of the acquisition, the chairman now 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.

A hedge fund recently raised its stake in Iconix Brand Group stock. State of New Jersey Common Pension Fund D raised its position in shares of Iconix Brand Group Inc. (NASDAQ:ICON) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 192,500 shares of the company’s stock after buying an additional 10,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.40% of Iconix Brand Group worth $1,315,000 as of its most recent SEC filing.

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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