Short Interest in Iconix Brand Group, Inc. (NASDAQ:ICON) Increases By 41.9%

Iconix Brand Group, Inc. (NASDAQ:ICON) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 137,100 shares, a growth of 41.9% from the August 31st total of 96,600 shares. Based on an average daily trading volume, of 757,300 shares, the short-interest ratio is presently 0.2 days. Approximately 1.3% of the company’s shares are sold short.

A hedge fund recently bought a new stake in Iconix Brand Group stock. Pinnacle Associates Ltd. acquired a new position in Iconix Brand Group, Inc. (NASDAQ:ICON) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 500,000 shares of the brand management company’s stock, valued at approximately $465,000. Pinnacle Associates Ltd. owned approximately 4.22% of Iconix Brand Group as of its most recent SEC filing. 10.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ICON traded down $0.01 on Thursday, hitting $0.70. 138,396 shares of the stock traded hands, compared to its average volume of 360,220. The firm has a market capitalization of $8.46 million, a P/E ratio of -0.05 and a beta of 2.20. The stock’s 50 day moving average is $0.80 and its two-hundred day moving average is $0.87. Iconix Brand Group has a 1 year low of $0.51 and a 1 year high of $2.75.

Iconix Brand Group Company Profile

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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