Magnum Ice Cream (NYSE:MICC) Hits New 1-Year Low – Should You Sell?

The Magnum Ice Cream Company N.V. (NYSE:MICC)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $14.36 and last traded at $14.4020, with a volume of 21653 shares trading hands. The stock had previously closed at $14.95.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Zacks Research cut Magnum Ice Cream from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Berenberg Bank upgraded shares of Magnum Ice Cream to a “hold” rating in a research report on Friday, February 27th. The Goldman Sachs Group lowered shares of Magnum Ice Cream from a “neutral” rating to a “sell” rating in a report on Friday, March 20th. Oddo Bhf assumed coverage on shares of Magnum Ice Cream in a research report on Thursday, January 15th. They issued an “outperform” rating for the company. Finally, Weiss Ratings downgraded shares of Magnum Ice Cream from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, March 20th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Magnum Ice Cream currently has an average rating of “Reduce”.

Magnum Ice Cream Price Performance

The company’s 50-day moving average price is $16.34.

Institutional Trading of Magnum Ice Cream

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FIL Ltd bought a new position in Magnum Ice Cream during the 4th quarter worth approximately $360,762,000. Vanguard Group Inc. bought a new stake in shares of Magnum Ice Cream in the 4th quarter valued at $344,031,000. First Eagle Investment Management LLC acquired a new stake in shares of Magnum Ice Cream during the fourth quarter worth $260,541,000. Norges Bank acquired a new stake in shares of Magnum Ice Cream during the fourth quarter worth $173,632,000. Finally, Barclays PLC bought a new position in Magnum Ice Cream during the fourth quarter worth $156,326,000.

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.