Magnum Ice Cream (NYSE:MICC) Shares Gap Down – Time to Sell?

The Magnum Ice Cream Company N.V. (NYSE:MICC) gapped down before the market opened on Monday . The stock had previously closed at $16.66, but opened at $15.81. Magnum Ice Cream shares last traded at $16.0970, with a volume of 311,894 shares.

Wall Street Analyst Weigh In

Several research analysts have commented on MICC shares. Zacks Research upgraded shares of Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Weiss Ratings raised shares of Magnum Ice Cream from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. BNP Paribas Exane downgraded shares of Magnum Ice Cream to a “neutral” rating in a research note on Tuesday, April 21st. Berenberg Bank raised Magnum Ice Cream to a “hold” rating in a research report on Friday, February 27th. Finally, The Goldman Sachs Group downgraded Magnum Ice Cream from a “neutral” rating to a “sell” rating in a report on Friday, March 20th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Magnum Ice Cream Stock Performance

The business’s 50-day moving average is $14.63.

Hedge Funds Weigh In On Magnum Ice Cream

Several hedge funds have recently bought and sold shares of MICC. Quantinno Capital Management LP raised its holdings in Magnum Ice Cream by 96.0% during the first quarter. Quantinno Capital Management LP now owns 403,795 shares of the company’s stock valued at $6,017,000 after buying an additional 197,806 shares in the last quarter. London Co. of Virginia increased its holdings in shares of Magnum Ice Cream by 32.5% during the 1st quarter. London Co. of Virginia now owns 219,299 shares of the company’s stock valued at $3,220,000 after acquiring an additional 53,758 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Magnum Ice Cream by 2.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 41,816 shares of the company’s stock valued at $612,000 after acquiring an additional 1,159 shares during the last quarter. Sei Investments Co. raised its stake in shares of Magnum Ice Cream by 26.5% in the 1st quarter. Sei Investments Co. now owns 132,724 shares of the company’s stock valued at $1,981,000 after acquiring an additional 27,801 shares in the last quarter. Finally, Group One Trading LLC bought a new position in shares of Magnum Ice Cream in the 1st quarter valued at approximately $178,000.

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.