Iconix Brand Group (ICON) Trading Up 31.7%

Iconix Brand Group, Inc. (NASDAQ:ICON) shares were up 31.7% during mid-day trading on Friday . The company traded as high as $1.68 and last traded at $1.62. Approximately 11,940,000 shares traded hands during mid-day trading, an increase of 320% from the average daily volume of 2,843,733 shares. The stock had previously closed at $1.23.

A number of research analysts have issued reports on ICON shares. FBR & Co cut shares of Iconix Brand Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $8.50 to $4.00 in a report on Monday, October 30th. Zacks Investment Research cut shares of Iconix Brand Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. B. Riley reaffirmed a “neutral” rating and issued a $4.00 target price (down from $8.50) on shares of Iconix Brand Group in a report on Wednesday, November 1st. Roth Capital reaffirmed a “neutral” rating on shares of Iconix Brand Group in a report on Tuesday, October 31st. Finally, ValuEngine raised shares of Iconix Brand Group from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $5.00.

The company has a debt-to-equity ratio of -5.92, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $81.60, a price-to-earnings ratio of -0.10 and a beta of 1.40.

Iconix Brand Group (NASDAQ:ICON) last issued its earnings results on Friday, December 22nd. The brand management company reported $0.24 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.24. Iconix Brand Group had a negative net margin of 311.99% and a positive return on equity of 17.65%. research analysts anticipate that Iconix Brand Group, Inc. will post 0.65 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its stake in shares of Iconix Brand Group by 5.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 17,869 shares of the brand management company’s stock worth $123,000 after purchasing an additional 876 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Iconix Brand Group by 2.4% during the 2nd quarter. New York State Common Retirement Fund now owns 39,100 shares of the brand management company’s stock worth $270,000 after purchasing an additional 899 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Iconix Brand Group by 20.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 16,258 shares of the brand management company’s stock worth $112,000 after purchasing an additional 2,797 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Iconix Brand Group by 12.3% during the 2nd quarter. Royal Bank of Canada now owns 35,342 shares of the brand management company’s stock worth $245,000 after purchasing an additional 3,884 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of Iconix Brand Group by 21.4% during the 2nd quarter. Voya Investment Management LLC now owns 24,215 shares of the brand management company’s stock worth $167,000 after purchasing an additional 4,274 shares in the last quarter. 84.78% of the stock is owned by institutional investors and hedge funds.

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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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