Van ECK Associates Corp Purchases New Stake in The Magnum Ice Cream Company N.V. $MICC

Van ECK Associates Corp acquired a new position in The Magnum Ice Cream Company N.V. (NYSE:MICC) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 221,876 shares of the company’s stock, valued at approximately $3,862,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MICC. BNP Paribas acquired a new position in shares of Magnum Ice Cream during the 4th quarter worth $27,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Magnum Ice Cream in the fourth quarter valued at about $28,000. Leonteq Securities AG purchased a new stake in Magnum Ice Cream during the fourth quarter worth about $30,000. Acumen Wealth Advisors LLC purchased a new stake in Magnum Ice Cream during the fourth quarter worth about $35,000. Finally, EDENTREE ASSET MANAGEMENT Ltd acquired a new position in Magnum Ice Cream during the fourth quarter worth about $37,000.

Magnum Ice Cream Stock Down 0.6%

Shares of MICC opened at $19.73 on Friday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.01 and a quick ratio of 0.78. The firm has a 50 day simple moving average of $18.92 and a 200-day simple moving average of $16.70. The Magnum Ice Cream Company N.V. has a 1-year low of $12.94 and a 1-year high of $20.68.

Magnum Ice Cream (NYSE:MICC) last posted its earnings results on Thursday, July 30th. The company reported $0.41 earnings per share (EPS) for the quarter. The company had revenue of $2.68 billion during the quarter. Analysts anticipate that The Magnum Ice Cream Company N.V. will post 1.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MICC. Jefferies Financial Group reiterated a “hold” rating on shares of Magnum Ice Cream in a research report on Thursday, June 25th. Morgan Stanley restated an “overweight” rating on shares of Magnum Ice Cream in a report on Wednesday, August 5th. Finally, Weiss Ratings raised Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 30th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

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.