Smith Graham & Co. Investment Advisors LP raised its stake in Iconix Brand Group Inc. (NASDAQ:ICON) by 12.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 500,885 shares of the company’s stock after buying an additional 57,180 shares during the period. Smith Graham & Co. Investment Advisors LP’s holdings in Iconix Brand Group were worth $3,386,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. purchased a new stake in Iconix Brand Group during the first quarter worth $2,211,000. Prudential Financial Inc. increased its stake in shares of Iconix Brand Group by 183.2% in the first quarter. Prudential Financial Inc. now owns 315,292 shares of the company’s stock valued at $2,538,000 after buying an additional 203,963 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Iconix Brand Group by 17.1% in the first quarter. Goldman Sachs Group Inc. now owns 568,242 shares of the company’s stock valued at $4,574,000 after buying an additional 82,777 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Iconix Brand Group during the first quarter valued at $361,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Iconix Brand Group during the first quarter valued at $248,000. 80.08% of the stock is owned by institutional investors.
Shares of Iconix Brand Group Inc. (NASDAQ:ICON) traded up 1.50% during trading on Friday, hitting $8.12. The company had a trading volume of 423,941 shares. The company’s market capitalization is $455.74 million. Iconix Brand Group Inc. has a 52 week low of $4.67 and a 52 week high of $16.88. The stock’s 50-day moving average price is $8.41 and its 200 day moving average price is $7.81.
Iconix Brand Group (NASDAQ:ICON) last released its earnings results on Thursday, August 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. Iconix Brand Group had a positive return on equity of 7.26% and a negative net margin of 63.95%. The firm earned $95.70 million during the quarter, compared to analysts’ expectations of $97.02 million. During the same quarter last year, the business posted $0.45 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis. On average, equities research analysts forecast that Iconix Brand Group Inc. will post $1.17 earnings per share for the current year.
ICON has been the subject of several recent research reports. Zacks Investment Research upgraded Iconix Brand Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 2nd. Guggenheim initiated coverage on Iconix Brand Group in a research report on Friday. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Iconix Brand Group currently has a consensus rating of “Hold” and an average target price of $10.50.
About Iconix Brand Group
Iconix Brand Group, Inc is a brand management company. The Company owns a diversified portfolio of over 35 global consumer brands across women’s, men’s, home and entertainment categories. The Company operates through five segments: men’s, women’s, home, entertainment and corporate. 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, Strawberry Shortcake and Artful Dodger, and interests in Material Girl, Peanuts, Ed Hardy, Truth or Dare, Modern Amusement, Buffalo, Nick Graham Hydraulic and PONY brands.
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