Magnum Ice Cream (NYSE:MICC) Shares Gap Up – Here’s What Happened

The Magnum Ice Cream Company N.V. (NYSE:MICC) gapped up before the market opened on Friday . The stock had previously closed at $15.02, but opened at $16.98. Magnum Ice Cream shares last traded at $16.8350, with a volume of 1,956,194 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on MICC. Weiss Ratings lowered Magnum Ice Cream from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, March 20th. Oddo Bhf initiated coverage on Magnum Ice Cream in a research report on Thursday, January 15th. They issued an “outperform” rating on the stock. Zacks Research raised Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. BNP Paribas Exane downgraded Magnum Ice Cream to a “neutral” rating in a research report on Tuesday, April 21st. Finally, Berenberg Bank raised Magnum Ice Cream to a “hold” rating in a research report on Friday, February 27th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Magnum Ice Cream has an average rating of “Reduce”.

Magnum Ice Cream Stock Up 9.4%

The company’s 50-day moving average price is $14.61.

Institutional Investors Weigh In On Magnum Ice Cream

A number of institutional investors have recently added to or reduced their stakes in MICC. Compagnie Lombard Odier SCmA acquired a new stake in Magnum Ice Cream during the fourth quarter worth about $3,008,000. Bank Pictet & Cie Europe AG acquired a new stake in Magnum Ice Cream during the fourth quarter worth about $197,000. Banque Pictet & Cie SA acquired a new stake in Magnum Ice Cream during the fourth quarter worth about $729,000. Blue Trust Inc. acquired a new stake in Magnum Ice Cream during the fourth quarter worth about $135,000. Finally, First Pacific Financial acquired a new stake in Magnum Ice Cream during the fourth quarter worth about $42,000.

About Magnum Ice Cream

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.