Iconix Brand Group (ICON) Stock Price Up 7%

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Iconix Brand Group, Inc. (NASDAQ:ICON) rose 7% during trading on Tuesday . The company traded as high as $1.14 and last traded at $1.07. Approximately 730,697 shares traded hands during trading, an increase of 67% from the average daily volume of 436,382 shares. The stock had previously closed at $1.00.

Separately, ValuEngine downgraded shares of Iconix Brand Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st.

Iconix Brand Group (NASDAQ:ICON) last issued its quarterly earnings results on Tuesday, May 14th. The brand management company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $35.94 million during the quarter. Iconix Brand Group had a negative net margin of 63.02% and a negative return on equity of 6.88%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Iconix Brand Group by 17.9% during the third quarter. Vanguard Group Inc. now owns 4,461,444 shares of the brand management company’s stock worth $1,384,000 after buying an additional 676,877 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of Iconix Brand Group by 17.9% during the third quarter. Vanguard Group Inc now owns 4,461,444 shares of the brand management company’s stock worth $1,384,000 after buying an additional 676,877 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Iconix Brand Group by 1,020.2% during the third quarter. Renaissance Technologies LLC now owns 672,121 shares of the brand management company’s stock worth $208,000 after buying an additional 612,121 shares in the last quarter.

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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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