Magnum Ice Cream (NYSE:MICC) Stock Rating Lowered by The Goldman Sachs Group

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

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

Magnum Ice Cream Stock Performance

Shares of Magnum Ice Cream stock opened at $15.10 on Friday. The stock has a fifty day moving average price of $16.64. Magnum Ice Cream has a 12-month low of $14.45 and a 12-month high of $19.93.

Institutional Investors Weigh In On Magnum Ice Cream

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA purchased a new position in Magnum Ice Cream in the fourth quarter worth about $3,008,000. Bank Pictet & Cie Europe AG purchased a new stake in shares of Magnum Ice Cream during the 4th quarter valued at about $197,000. Banque Pictet & Cie SA bought a new position in shares of Magnum Ice Cream in the 4th quarter worth approximately $729,000. Blue Trust Inc. bought a new position in shares of Magnum Ice Cream in the 4th quarter worth approximately $135,000. Finally, First Pacific Financial purchased a new position in shares of Magnum Ice Cream in the fourth quarter worth approximately $42,000.

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.