Madison Avenue Partners LP Acquires Shares of 6,429,296 The Magnum Ice Cream Company N.V. $MICC

Madison Avenue Partners LP acquired a new stake in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,429,296 shares of the company’s stock, valued at approximately $101,904,000. Magnum Ice Cream comprises 4.4% of Madison Avenue Partners LP’s portfolio, making the stock its 10th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MICC. BNP Paribas purchased a new stake in Magnum Ice Cream during the 4th quarter valued at approximately $27,000. Cullen Frost Bankers Inc. purchased a new stake in Magnum Ice Cream during the 4th quarter valued at approximately $28,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Magnum Ice Cream during the 4th quarter valued at approximately $30,000. Leonteq Securities AG purchased a new stake in Magnum Ice Cream during the 4th quarter valued at approximately $30,000. Finally, V Square Quantitative Management LLC purchased a new stake in Magnum Ice Cream during the 4th quarter valued at approximately $33,000.

Analyst Upgrades and Downgrades

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

Magnum Ice Cream Stock Down 1.9%

Shares of MICC stock opened at $17.10 on Thursday. The stock’s 50 day simple moving average is $15.42. The Magnum Ice Cream Company N.V. has a 12-month low of $12.94 and a 12-month high of $19.93.

Magnum Ice Cream 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.