Magnum Ice Cream (NYSE:MICC) Sets New 12-Month Low – Time to Sell?

The Magnum Ice Cream Company N.V. (NYSE:MICC) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $14.45 and last traded at $14.4960, with a volume of 2263277 shares changing hands. The stock had previously closed at $14.74.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Oddo Bhf started coverage on shares of Magnum Ice Cream in a research note on Thursday, January 15th. They issued an “outperform” rating for the company. The Goldman Sachs Group lowered shares of Magnum Ice Cream from a “neutral” rating to a “sell” rating in a report on Friday. Berenberg Bank raised shares of Magnum Ice Cream to a “hold” rating in a research report on Friday, February 27th. Weiss Ratings downgraded Magnum Ice Cream from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday. Finally, Zacks Research lowered Magnum Ice Cream from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce”.

Magnum Ice Cream Trading Down 1.2%

The company has a 50 day simple moving average of $16.57.

Institutional Investors Weigh In On Magnum Ice Cream

Institutional investors have recently modified their holdings of the stock. BNP Paribas acquired a new position in Magnum Ice Cream in the fourth quarter worth about $27,000. Cullen Frost Bankers Inc. acquired a new stake in Magnum Ice Cream during the fourth quarter valued at approximately $28,000. Bartlett & CO. Wealth Management LLC bought a new position in Magnum Ice Cream during the 4th quarter worth approximately $30,000. Leonteq Securities AG bought a new position in Magnum Ice Cream during the 4th quarter worth approximately $30,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Magnum Ice Cream in the 4th quarter worth approximately $33,000.

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.