Trade Report: The Swiss National Bank cuts its investment of stake in Iconix Brand Group Inc. (ICON)

The Swiss National Bank cuts its investment of stake in Iconix Brand Group Inc. (ICON)

Swiss National Bank lowered its position in Iconix Brand Group Inc. (NASDAQ:ICON) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,400 shares of the company’s stock after selling 5,800 shares during the period. Swiss National Bank owned 0.15% of Iconix Brand Group worth $483,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ICON. Pacad Investment Ltd. acquired a new stake in shares of Iconix Brand Group during the first quarter worth approximately $247,000. Prudential Financial Inc. raised its stake in shares of Iconix Brand Group by 183.2% in the first quarter. Prudential Financial Inc. now owns 315,292 shares of the company’s stock worth $2,538,000 after buying an additional 203,963 shares during the period. Menta Capital LLC acquired a new stake in shares of Iconix Brand Group during the first quarter worth approximately $144,000. Canada Pension Plan Investment Board raised its stake in shares of Iconix Brand Group by 2.4% in the first quarter. Canada Pension Plan Investment Board now owns 730,622 shares of the company’s stock worth $5,882,000 after buying an additional 16,893 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Iconix Brand Group during the first quarter worth approximately $361,000. Institutional investors and hedge funds own 79.78% of the company’s stock.

Shares of Iconix Brand Group Inc. (NASDAQ:ICON) traded down 0.50% during mid-day trading on Monday, hitting $8.00. The company’s stock had a trading volume of 63,526 shares. The company’s market cap is $449.01 million. Iconix Brand Group Inc. has a 52-week low of $4.67 and a 52-week high of $16.88. The stock’s 50 day moving average price is $8.27 and its 200 day moving average price is $7.82.

Iconix Brand Group (NASDAQ:ICON) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. The company had revenue of $95.70 million for the quarter, compared to the consensus estimate of $97.02 million. Iconix Brand Group had a positive return on equity of 7.26% and a negative net margin of 63.95%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 EPS. Equities analysts forecast that Iconix Brand Group Inc. will post $1.17 EPS for the current year.

A number of analysts recently commented on ICON shares. Zacks Investment Research upgraded Iconix Brand Group from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Tuesday, August 16th. Guggenheim started coverage on Iconix Brand Group in a report on Friday, September 30th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $10.50.

About Iconix Brand Group

Iconix Brand Group, Inc is a brand management company. The Company owns a diversified portfolio of over 35 global consumer brands across women’s, men’s, home and entertainment categories. The Company operates through five segments: men’s, women’s, home, entertainment and corporate. 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, Sharper Image, Umbro, Lee Cooper, Strawberry Shortcake and Artful Dodger, and interests in Material Girl, Peanuts, Ed Hardy, Truth or Dare, Modern Amusement, Buffalo, Nick Graham Hydraulic and PONY brands.

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