Iconix Brand Group (ICON) Stock Price Down 5%

Shares of Iconix Brand Group, Inc. (NASDAQ:ICON) were down 5% during mid-day trading on Thursday . The stock traded as low as $0.18 and last traded at $0.19. Approximately 2,489,865 shares changed hands during mid-day trading, an increase of 45% from the average daily volume of 1,720,811 shares. The stock had previously closed at $0.20.

Separately, Zacks Investment Research lowered shares of Iconix Brand Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 21st. Six investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus price target of $2.69.

The company has a market cap of $21.20 million, a P/E ratio of 0.26 and a beta of 0.86. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of -7.12.

Iconix Brand Group (NASDAQ:ICON) last issued its quarterly earnings data on Wednesday, August 8th. The brand management company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $50.21 million during the quarter. Iconix Brand Group had a negative net margin of 281.71% and a negative return on equity of 52.93%.

In related news, Chairman F Peter Cuneo sold 179,992 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $0.26, for a total transaction of $46,797.92. Following the completion of the transaction, the chairman now owns 329,949 shares of the company’s stock, valued at $85,786.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of ICON. Schwab Charles Investment Management Inc. grew its stake in Iconix Brand Group by 43.3% during the first 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 acquiring an additional 546,656 shares in the last quarter. Jane Street Group LLC purchased a new position in Iconix Brand Group during the second quarter valued at approximately $147,000. Paloma Partners Management Co grew its stake in Iconix Brand Group by 610.7% during the second quarter. Paloma Partners Management Co now owns 243,900 shares of the brand management company’s stock valued at $142,000 after acquiring an additional 209,581 shares in the last quarter. Finally, Nomura Holdings Inc. grew its stake in Iconix Brand Group by 22.2% during the second quarter. Nomura Holdings Inc. now owns 1,081,307 shares of the brand management company’s stock valued at $631,000 after acquiring an additional 196,793 shares in the last quarter. 26.64% of the stock is owned by institutional investors.

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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