PNC Financial Services Group Inc. Sells 36,814 Shares of The Magnum Ice Cream Company N.V. $MICC

PNC Financial Services Group Inc. decreased its position in shares of The Magnum Ice Cream Company N.V. (NYSE:MICC) by 42.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,434 shares of the company’s stock after selling 36,814 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Magnum Ice Cream were worth $754,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale purchased a new stake in Magnum Ice Cream in the 1st quarter worth $1,067,000. SEB Asset Management AB purchased a new position in shares of Magnum Ice Cream in the first quarter valued at about $2,354,000. Swiss National Bank boosted its stake in shares of Magnum Ice Cream by 26.4% in the first quarter. Swiss National Bank now owns 1,695,991 shares of the company’s stock worth $24,854,000 after acquiring an additional 354,523 shares during the period. Mediolanum International Funds Ltd bought a new position in shares of Magnum Ice Cream in the first quarter worth about $685,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Magnum Ice Cream during the first quarter worth about $228,000.

Analyst Ratings Changes

Several analysts recently issued reports on MICC shares. Morgan Stanley reissued an “overweight” rating on shares of Magnum Ice Cream in a research note on Monday, June 29th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Magnum Ice Cream in a report on Thursday, June 25th. Weiss Ratings upgraded shares of Magnum Ice Cream from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Zacks Research raised shares of Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, BNP Paribas Exane downgraded shares of Magnum Ice Cream to a “neutral” rating in a report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Magnum Ice Cream Stock Performance

Magnum Ice Cream stock opened at $18.63 on Monday. The business has a 50-day simple moving average of $17.64. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.78 and a current ratio of 1.01. The Magnum Ice Cream Company N.V. has a twelve month low of $12.94 and a twelve month high of $19.93.

Magnum Ice Cream (NYSE:MICC) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.41 EPS for the quarter. The business had revenue of $2.68 billion during the quarter. As a group, equities analysts forecast that The Magnum Ice Cream Company N.V. will post 1.1 EPS for the current year.

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.