Iconix Brand Group (NASDAQ:ICON) Upgraded by ValuEngine to Sell

ValuEngine upgraded shares of Iconix Brand Group (NASDAQ:ICON) from a strong sell rating to a sell rating in a report released on Wednesday, ValuEngine reports.

Shares of ICON opened at $1.26 on Wednesday. The company has a market capitalization of $14.94 million, a PE ratio of -0.13 and a beta of 2.28. Iconix Brand Group has a 12 month low of $0.51 and a 12 month high of $1.92. The stock’s 50-day moving average price is $0.99 and its two-hundred day moving average price is $0.89.

Iconix Brand Group (NASDAQ:ICON) last announced its earnings results on Monday, November 16th. The brand management company reported ($0.19) EPS for the quarter. The business had revenue of $24.46 million during the quarter.

A hedge fund recently bought a new stake in Iconix Brand Group stock. Pinnacle Associates Ltd. acquired a new stake in Iconix Brand Group, Inc. (NASDAQ:ICON) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 500,000 shares of the brand management company’s stock, valued at approximately $465,000. Pinnacle Associates Ltd. owned 4.22% of Iconix Brand Group at the end of the most recent reporting period. 6.17% of the stock is currently owned by institutional investors.

About Iconix Brand Group

Iconix Brand Group, Inc is a brand management company. As of December 31, 2016, the Company owned a portfolio of over 30 global consumer brands across women’s, men’s, and home categories. The Company operates through segments: men’s, women’s, home and international. 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, Umbro, Lee Cooper and Artful Dodger, and interests in Material Girl, Ed Hardy, Truth or Dare, Modern Amusement, Buffalo, Nick Graham Hydraulic and PONY brands.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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