Iconix Brand Group, Inc. (NASDAQ:ICON) dropped 5.7% during mid-day trading on Thursday . The stock traded as low as $0.32 and last traded at $0.33. Approximately 604,308 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 1,775,126 shares. The stock had previously closed at $0.35.
ICON has been the subject of several recent research reports. Zacks Investment Research raised shares of Iconix Brand Group from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research report on Friday, May 25th. ValuEngine lowered shares of Iconix Brand Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Seven research analysts have rated the stock with a hold rating, Iconix Brand Group currently has a consensus rating of “Hold” and a consensus price target of $3.35.
The stock has a market capitalization of $23.92 million, a PE ratio of 0.44 and a beta of 0.87. The company has a debt-to-equity ratio of -7.12, a quick ratio of 1.78 and a current ratio of 1.78.
Iconix Brand Group (NASDAQ:ICON) last released its quarterly earnings data on Wednesday, August 8th. The brand management company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. Iconix Brand Group had a negative net margin of 281.71% and a negative return on equity of 52.93%. The company had revenue of $50.21 million during the quarter.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC acquired a new stake in Iconix Brand Group during the 4th quarter valued at $636,000. Schwab Charles Investment Management Inc. grew its holdings in Iconix Brand Group by 43.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,808,231 shares of the brand management company’s stock valued at $2,008,000 after purchasing an additional 546,656 shares in the last quarter. Park West Asset Management LLC acquired a new stake in Iconix Brand Group during the 1st quarter valued at $555,000. Nomura Holdings Inc. grew its holdings in Iconix Brand Group by 22.2% during the 2nd quarter. Nomura Holdings Inc. now owns 1,081,307 shares of the brand management company’s stock valued at $631,000 after purchasing an additional 196,793 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Iconix Brand Group during the 2nd quarter valued at $147,000. 26.65% of the stock is owned by institutional investors and hedge funds.
About Iconix Brand Group (NASDAQ:ICON)
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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