Magnum Ice Cream (NYSE:MICC) Rating Lowered to “Sell” at The Goldman Sachs Group

Magnum Ice Cream (NYSE:MICC) was downgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Friday,Finviz reports.

Several other research firms have also recently weighed in on MICC. Zacks Research cut shares of Magnum Ice Cream from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Oddo Bhf initiated coverage on Magnum Ice Cream in a research note on Thursday, January 15th. They set an “outperform” rating for the company. Berenberg Bank upgraded Magnum Ice Cream to a “hold” rating in a research report on Friday, February 27th. Finally, Weiss Ratings initiated coverage on Magnum Ice Cream in a research note on Thursday, March 5th. They issued a “hold (c)” rating on the stock. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

Magnum Ice Cream Trading Down 1.7%

Shares of MICC stock opened at $15.10 on Friday. The firm’s fifty day simple moving average is $16.64. Magnum Ice Cream has a 1 year low of $14.45 and a 1 year high of $19.93.

Institutional Investors Weigh In On Magnum Ice Cream

Hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. bought a new stake in shares of Magnum Ice Cream in the 4th quarter worth approximately $237,000. Corient Private Wealth LLC bought a new position in shares of Magnum Ice Cream during the 4th quarter valued at $1,468,000. Groupama Asset Managment bought a new position in shares of Magnum Ice Cream during the 4th quarter valued at $562,000. Anchor Investment Management LLC purchased a new position in Magnum Ice Cream in the 4th quarter worth $120,000. Finally, Virtu Financial LLC bought a new stake in Magnum Ice Cream in the fourth quarter worth $175,000.

Magnum Ice Cream Company Profile

The Magnum Ice Cream Company N.V. engages in ice cream business. The Magnum Ice Cream Company N.V. is based in Amsterdam, Noord-Holland, Netherlands.