Iconix Brand Group Inc. (ICON) Stock Price Up 3.3%
Iconix Brand Group Inc. (NASDAQ:ICON)’s share price rose 3.3% during mid-day trading on Thursday . The company traded as high as $6.65 and last traded at $6.62, with a volume of 1,555,934 shares. The stock had previously closed at $6.41.
ICON has been the topic of a number of research reports. Zacks Investment Research downgraded Iconix Brand Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 10th. Roth Capital reiterated a “buy” rating on shares of Iconix Brand Group in a research report on Tuesday, March 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Iconix Brand Group presently has a consensus rating of “Hold” and an average price target of $16.46.
The company’s 50-day moving average is $7.36 and its 200 day moving average is $7.45. The firm’s market cap is $321.30 million.
Iconix Brand Group (NASDAQ:ICON) last released its earnings results on Thursday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.12. During the same period in the previous year, the company earned $0.54 earnings per share. The firm earned $94.60 million during the quarter, compared to analyst estimates of $95.79 million. Iconix Brand Group’s revenue was down 1.3% on a year-over-year basis. Analysts predict that Iconix Brand Group Inc. will post $1.22 EPS for the current fiscal year.
In other news, Chairman F Peter Cuneo bought 50,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 310,838 shares in the company, valued at $2,483,595.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Blumberg sold 20,830 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $8.27, for a total value of $172,264.10. Following the completion of the transaction, the executive vice president now directly owns 149,515 shares in the company, valued at $1,236,489.05. The disclosure for this sale can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D increased its position in 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 last quarter. South Dakota Investment Council bought a new stake in shares of Iconix Brand Group during the fourth quarter valued at $1,893,000. Principal Financial Group Inc. increased its stake in shares of Iconix Brand Group by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 318,529 shares of the company’s stock valued at $2,176,000 after buying an additional 14,856 shares in the last quarter. Oxford Asset Management increased its stake 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 valued at $2,038,000 after buying an additional 207,691 shares in the last quarter. Finally, 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 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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