Iconix Brand Group Inc. (ICON) Shares Up 5.4%
Iconix Brand Group Inc. (NASDAQ:ICON) shares shot up 5.4% on Wednesday . The company 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.
A number of research firms have recently weighed in on ICON. Zacks Investment Research lowered Iconix Brand Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 8th. Roth Capital restated a “buy” rating on shares of Iconix Brand Group in a report on Tuesday, March 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Iconix Brand Group currently has an average rating of “Hold” and a consensus price target of $16.46.
The firm’s market cap is $343.14 million. The company has a 50 day moving average price of $7.22 and a 200 day moving average price of $7.46.
Iconix Brand Group (NASDAQ:ICON) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.53 EPS 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. During the same period in the prior year, the business earned $0.54 earnings per share. Iconix Brand Group’s revenue was down 1.3% compared to the same quarter last year. Equities research analysts anticipate that Iconix Brand Group Inc. will post $1.22 EPS for the current fiscal year.
In other Iconix Brand Group news, EVP David Blumberg sold 20,830 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $8.27, for a total transaction of $172,264.10. Following the sale, the executive vice president now directly owns 149,515 shares of the company’s stock, valued at $1,236,489.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman F Peter Cuneo purchased 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, for a total transaction of $399,500.00. Following the completion of the acquisition, the chairman now owns 310,838 shares of the company’s stock, valued at $2,483,595.62. The disclosure for this purchase can be found here.
Other large investors have bought and sold shares of the company. State of New Jersey Common Pension Fund D boosted its stake 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 worth $1,315,000 after buying an additional 10,000 shares in the last quarter. South Dakota Investment Council acquired a new stake in Iconix Brand Group during the fourth quarter worth approximately $1,893,000. Lapides Asset Management LLC boosted its stake in Iconix Brand Group by 8.8% in the fourth quarter. Lapides Asset Management LLC now owns 559,000 shares of the company’s stock worth $3,818,000 after buying an additional 45,400 shares in the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in Iconix Brand Group during the fourth quarter worth 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.