Stock of the Day: Institutional Investors Are Betting On Iconix Brand Group Inc (NASDAQ:ICON)

December 1, 2016 - By Peter Erickson   ·   0 Comments

Stock of the Day: Institutional Investors Are Betting On Iconix Brand Group Inc (NASDAQ:ICON)

Sentiment for Iconix Brand Group Inc (NASDAQ:ICON)

Iconix Brand Group Inc (NASDAQ:ICON) institutional sentiment decreased to 1.2 in Q2 2016. Its down -0.09, from 1.29 in 2016Q1. The ratio fall, as 75 hedge funds increased and opened new positions, while 58 cut down and sold their stock positions in Iconix Brand Group Inc. The hedge funds in our partner’s database reported: 44.23 million shares, up from 42.91 million shares in 2016Q1. Also, the number of hedge funds holding Iconix Brand Group Inc in their top 10 positions increased from 1 to 2 for an increase of 1. Sold All: 18 Reduced: 40 Increased: 55 New Position: 20.

Iconix Brand Group, Inc. is a brand management company. The company has a market cap of $496.94 million. The Firm owns a diversified portfolio of over 35 global consumer brands across women’s, men’s, home and entertainment categories. It currently has negative earnings. The Firm operates through five divisions: men’s, women’s, home, entertainment and corporate.

The stock decreased 1.75% or $0.16 during the last trading session, hitting $8.97. Iconix Brand Group Inc (NASDAQ:ICON) has risen 0.56% since April 28, 2016 and is uptrending. It has underperformed by 5.36% the S&P500.

Analysts await Iconix Brand Group Inc (NASDAQ:ICON) to report earnings on March, 27. They expect $0.14 EPS, down 44.00% or $0.11 from last year’s $0.25 per share. ICON’s profit will be $7.76M for 16.02 P/E if the $0.14 EPS becomes a reality. After $0.19 actual EPS reported by Iconix Brand Group Inc for the previous quarter, Wall Street now forecasts -26.32% negative EPS growth.

According to Zacks Investment Research, “Iconix Brand Group, Inc. is in the business of licensing the CANDIE’S, BONGO, BADGLEY MISCHKA and JOE BOXER trademarks on a variety of footwear, apparel and fashion products. Through its wholly owned subsidiary, Brightstar Footwear, Inc., the Company also arranges for the manufacture of footwear products for mass market and discount retailers under the private label brand of the retailer.”

Permit Capital Llc holds 3.12% of its portfolio in Iconix Brand Group Inc for 647,799 shares. Euclidean Technologies Management Llc owns 270,257 shares or 1.96% of their US portfolio. Moreover, Huber Capital Management Llc has 1.59% invested in the company for 5.73 million shares. The Pennsylvania-based Irving Magee Investment Management has invested 1.12% in the stock. Van Berkom & Associates Inc., a Quebec – Canada-based fund reported 1.94 million shares.#img1#

Iconix Brand Group Inc (NASDAQ:ICON) Ratings Coverage

Ratings analysis reveals 33% of Iconix Brand Group’s analysts are positive. Out of 6 Wall Street analysts rating Iconix Brand Group, 2 give it “Buy”, 0 “Sell” rating, while 4 recommend “Hold”. The lowest target is $7 while the high is $25. The stock’s average target of $13.40 is 49.39% above today’s ($8.97) share price. ICON was included in 10 notes of analysts from August 7, 2015. The stock has “Neutral” rating given by Monness Crespi & Hardt on Friday, November 6. On Friday, November 6 the stock rating was downgraded by Brean Capital to “Hold”. The firm has “Buy” rating given on Wednesday, November 11 by TH Capital. Nomura downgraded Iconix Brand Group Inc (NASDAQ:ICON) on Friday, August 7 to “” rating. The rating was maintained by Wunderlich with “Hold” on Friday, November 6. The stock has “Hold” rating given by Wunderlich on Friday, August 7. Monness Crespi & Hardt upgraded the shares of ICON in a report on Wednesday, August 12 to “Buy” rating. The rating was initiated by Guggenheim with “Neutral” on Friday, September 30. Brean Capital maintained it with “Buy” rating and $25 target price in Friday, August 7 report. The company was maintained on Wednesday, November 11 by Roth Capital.

ICON Company Profile

Iconix Brand Group, Inc., incorporated on June 17, 2005, is a brand management company. The Firm owns a diversified portfolio of over 35 global consumer brands across women’s, men’s, home and entertainment categories. The Firm operates through five divisions: 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. It operates in various geographic regions, including the United States, Japan and Other (which principally represent Latin America and Europe).

More notable recent Iconix Brand Group Inc (NASDAQ:ICON) news were published by: Fool.com which released: “Why Iconix Brand Group Inc Stock Tumbled Today” on November 08, 2016, also Fool.com with their article: “Why Iconix Brand Group, Inc. Lost Half Its Value in November” published on December 06, 2015, Prnewswire.com published: “Iconix Brand Group Announces $300 Million Term Loan” on March 07, 2016. More interesting news about Iconix Brand Group Inc (NASDAQ:ICON) were released by: Fool.com and their article: “Why Iconix Brand Group Inc. Shares Tumbled Today” published on March 29, 2016 as well as Fool.com‘s news article titled: “Why Iconix Brand Group Inc. Stock Plunged Today” with publication date: December 28, 2015.

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By Peter Erickson


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