Iconix Brand Group, Inc. (NASDAQ:ICON) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $5.76 and last traded at $5.75, with a volume of 520,378 shares. The stock had previously closed at $6.14.

Several brokerages have recently issued reports on ICON. Zacks Investment Research upgraded shares of Iconix Brand Group from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. Roth Capital set a $13.00 target price on shares of Iconix Brand Group and gave the stock a “buy” rating in a report on Thursday, May 11th. BidaskClub cut shares of Iconix Brand Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, FBR & Co restated an “outperform” rating and issued a $8.50 target price on shares of Iconix Brand Group in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $10.33.

The company’s market cap is $317.26 million. The firm’s 50 day moving average is $6.63 and its 200-day moving average is $7.45.

Iconix Brand Group (NASDAQ:ICON) last issued its quarterly earnings data on Wednesday, August 9th. The brand management company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.09. Iconix Brand Group had a positive return on equity of 9.27% and a negative net margin of 82.70%. The business had revenue of $64.60 million during the quarter, compared to analysts’ expectations of $61 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The company’s revenue was down 32.5% on a year-over-year basis. On average, equities analysts expect that Iconix Brand Group, Inc. will post $0.74 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICON. State Street Corp boosted its position in Iconix Brand Group by 7.0% in the fourth quarter. State Street Corp now owns 1,206,094 shares of the brand management company’s stock valued at $11,262,000 after buying an additional 79,004 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Iconix Brand Group by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the brand management company’s stock valued at $172,000 after buying an additional 300 shares during the last quarter. Malaga Cove Capital LLC boosted its position in Iconix Brand Group by 2.8% in the first quarter. Malaga Cove Capital LLC now owns 146,103 shares of the brand management company’s stock valued at $1,064,000 after buying an additional 4,011 shares during the last quarter. First Midwest Bank Trust Division boosted its position in Iconix Brand Group by 4.3% in the first quarter. First Midwest Bank Trust Division now owns 16,360 shares of the brand management company’s stock valued at $123,000 after buying an additional 667 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Iconix Brand Group by 454.7% in the first quarter. Wells Fargo & Company MN now owns 103,814 shares of the brand management company’s stock valued at $781,000 after buying an additional 85,098 shares during the last quarter. 83.84% of the stock is owned by hedge funds and other institutional investors.

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About Iconix Brand Group

Iconix Brand Group, Inc is a brand management company. As of December 31, 2016, the Company owned a portfolio of over 30 global consumer brands across women’s, men’s, and home categories. The Company operates through segments: men’s, women’s, home and international. The Company’s brand portfolio includes brands, such as Candie’s, Bongo, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific/OP, Danskin/Danskin Now, Rocawear/Roc Nation, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Ecko Unltd/Mark Ecko Cut & Sew, Zoo York, Sharper Image, Umbro, Lee Cooper and Artful Dodger, and interests in Material Girl, Ed Hardy, Truth or Dare, Modern Amusement, Buffalo, Nick Graham Hydraulic and PONY brands.

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