Guggenheim Securities Initiates Coverage on Iconix Brand Group Inc to Neutral

Guggenheim Securities Initiates Coverage on Iconix Brand Group Inc(NASDAQ:ICON). The shares have been rated Neutral. The rating by Guggenheim Securities was issued on Sep 30, 2016.

Iconix Brand Group Inc (ICON) made into the market gainers list on Tuesdays trading session with the shares advancing 1.84% or 0.15 points. Due to strong positive momentum, the stock ended at $8.29, which is also near the day’s high of $8.37. The stock began the session at $8.14 and the volume stood at 3,25,822 shares. The 52-week high of the shares is $16.8799 and the 52 week low is $4.67. The company has a current market capitalization of $465 M and it has 5,61,26,593 shares in outstanding.

Iconix Brand Group Inc(ICON) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $95.74M. Analysts had an estimated revenue of $95.22M. Earnings per share were $0.27. Analysts had estimated an EPS of $0.23.

Several Insider Transactions has been reported to the SEC. On May 20, 2016, David Blumberg (EVP – Chief Strategy Officer) sold 11,000 shares at $7.61 per share price.Also, On May 11, 2016, F Peter Cuneo (Executive Chairman) purchased 50,000 shares at $7.99 per share price.On Apr 15, 2016, Plc Barclays (10% owner) purchased 3,000 shares at $8.45 per share price, according to the Form-4 filing with the securities and exchange commission.

Iconix Brand Group Inc. is a brand management company and owner of a diversified portfolio of 35 global consumer brands across women’s men’s entertainment and home. The Company’s brand portfolio includes Candie’s Bongo Badgley Mischka Joe Boxer Rampage Mudd London Fog Mossimo Ocean Pacific (OP) Danskin Rocawear Cannon Royal Velvet Fieldcrest Charisma Starter Waverly Zoo York Sharper Image Umbro Lee Cooper Ecko Unltd. Marc Ecko and Strawberry Shortcake. The Company also has interest in Artful Dodger Material Girl Peanuts Ed Hardy Truth or Dare Billionaire Boys Club Ice Cream Modern Amusement Buffalo Nick Graham Pony and Hydraulic brands. The Company licenses its brands with respect to a range of products including apparel footwear fashion accessories sportswear home products and decor and beauty and fragrance and in the case of its Sharper Image brand consumer electronics and novelty products.

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