Iconix Brand Group, Inc. (NASDAQ:ICON) Sees Significant Decrease in Short Interest

Iconix Brand Group, Inc. (NASDAQ:ICON) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 276,000 shares, a drop of 29.3% from the September 15th total of 390,600 shares. Based on an average daily trading volume, of 153,100 shares, the days-to-cover ratio is currently 1.8 days. Currently, 2.7% of the company’s stock are sold short.

An institutional investor recently raised its position in Iconix Brand Group stock. Vanguard Group Inc. lifted its stake in shares of Iconix Brand Group, Inc. (NASDAQ:ICON) by 97.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 223,356 shares of the brand management company’s stock after buying an additional 109,959 shares during the quarter. Vanguard Group Inc. owned 2.07% of Iconix Brand Group worth $190,000 as of its most recent filing with the SEC. Institutional investors own 9.71% of the company’s stock.

Shares of NASDAQ:ICON traded down $0.04 during mid-day trading on Monday, hitting $2.16. 48,700 shares of the company traded hands, compared to its average volume of 321,079. Iconix Brand Group has a 52-week low of $0.65 and a 52-week high of $5.40. The firm’s 50 day simple moving average is $1.97 and its 200 day simple moving average is $1.38.

Iconix Brand Group (NASDAQ:ICON) last announced its earnings results on Thursday, August 8th. The brand management company reported $0.12 EPS for the quarter. The business had revenue of $34.39 million for the quarter. Iconix Brand Group had a negative return on equity of 0.97% and a negative net margin of 18.61%.

Separately, ValuEngine upgraded Iconix Brand Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 22nd.

Iconix Brand Group Company Profile

Iconix Brand Group, Inc is a brand management company. As of December 31, 2016, the Company owned a portfolio of over 30 global consumer brands across women’s, men’s, and home categories. The Company operates through segments: men’s, women’s, home and international. 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, Umbro, Lee Cooper and Artful Dodger, and interests in Material Girl, Ed Hardy, Truth or Dare, Modern Amusement, Buffalo, Nick Graham Hydraulic and PONY brands.

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