Iconix Brand Group, Inc. (NASDAQ:ICON)’s share price shot up 7.4% during mid-day trading on Monday . The company traded as high as $5.41 and last traded at $5.37, with a volume of 802,768 shares changing hands. The stock had previously closed at $5.00.

A number of brokerages have recently issued reports on ICON. Cowen and Company set a $9.00 price objective on shares of Iconix Brand Group and gave the company a “hold” rating in a research note on Monday, August 14th. BidaskClub cut shares of Iconix Brand Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. FBR & Co restated an “outperform” rating and issued a $8.50 price objective on shares of Iconix Brand Group in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Iconix Brand Group from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Iconix Brand Group has a consensus rating of “Hold” and an average price target of $10.00.

The stock’s market cap is $294.59 million. The firm has a 50 day moving average of $6.25 and a 200-day moving average of $7.03.

Iconix Brand Group (NASDAQ:ICON) last released its quarterly earnings results on Wednesday, August 9th. The brand management company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.09. Iconix Brand Group had a positive return on equity of 10.38% and a negative net margin of 82.22%. The firm had revenue of $64.60 million for the quarter, compared to analysts’ expectations of $61 million. During the same quarter last year, the firm posted $0.27 EPS. The company’s revenue was down 32.5% compared to the same quarter last year. On average, equities research analysts expect that Iconix Brand Group, Inc. will post $0.67 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Stevens Capital Management LP boosted its position in shares of Iconix Brand Group by 206.8% in the first quarter. Stevens Capital Management LP now owns 53,661 shares of the brand management company’s stock worth $404,000 after buying an additional 36,172 shares in the last quarter. State of Tennessee Treasury Department boosted its position in shares of Iconix Brand Group by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 52,775 shares of the brand management company’s stock worth $397,000 after buying an additional 7,965 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Iconix Brand Group by 10.3% in the first quarter. Parametric Portfolio Associates LLC now owns 502,859 shares of the brand management company’s stock worth $3,781,000 after buying an additional 47,144 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Iconix Brand Group during the first quarter worth $252,000. Finally, Van Berkom & Associates Inc. boosted its position in shares of Iconix Brand Group by 32.9% in the first quarter. Van Berkom & Associates Inc. now owns 2,514,901 shares of the brand management company’s stock worth $18,912,000 after buying an additional 622,250 shares in the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

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Iconix Brand Group Company Profile

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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