Iconix Brand Group (NASDAQ:ICON) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Iconix Brand Group (NASDAQ:ICON) from a strong sell rating to a sell rating in a research report released on Friday morning, ValuEngine reports.

Shares of NASDAQ ICON traded down $0.06 during trading on Friday, reaching $1.75. 139,600 shares of the company traded hands, compared to its average volume of 124,047. Iconix Brand Group has a 12-month low of $0.65 and a 12-month high of $5.40. The firm’s fifty day simple moving average is $2.02 and its 200 day simple moving average is $1.40.

A hedge fund recently raised its stake in Iconix Brand Group stock. Vanguard Group Inc. raised its position in Iconix Brand Group, Inc. (NASDAQ:ICON) by 97.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 223,356 shares of the brand management company’s stock after buying an additional 109,959 shares during the period. Vanguard Group Inc. owned about 2.07% of Iconix Brand Group worth $190,000 at the end of the most recent reporting period. 9.70% of the stock is owned by institutional investors and hedge funds.

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.

Read More: Using other technical indicators with support levels

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Iconix Brand Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iconix Brand Group and related companies with MarketBeat.com's FREE daily email newsletter.