Iconix Brand Group Inc. [NASDAQ: ICON] closed the trading session at $3.13 on 06/11/21. The day’s price range saw the stock hit a low of $3.02, while the highest price level was $3.177. The company report on June 12, 2021 that SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Iconix Brand Group, Inc. (Nasdaq – ICON).
Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors ofIconix Brand Group, Inc. (“Iconix” or the “Company”) (NASDAQ:ICON) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by Iconix Acquisition Corp., an affiliate of Lancer Capital, LLC (“Purchaser”). Under the terms of the merger agreement, Purchaser will commence a tender offer to acquire all of the outstanding shares of Iconix’s common stock for only $3.15 per share, in cash.
The investigation concerns whether the Iconix breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Purchaser is paying too little for the Company. For example, the deal price is below the 52-week high of $4.20 for the Company’s shares.
The stocks have a year to date performance of 148.41 percent and weekly performance of 19.92 percent. The stock has been moved at 181.98 percent over the last six months. The stock has performed 94.41 percent around the most recent 30 days and changed 15.07 percent over the most recent 3-months.
If compared to the average trading volume of 161.61K shares, ICON reached to a volume of 3564729 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Iconix Brand Group Inc. [ICON]:
ROTH Capital have made an estimate for Iconix Brand Group Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 31, 2017. While these analysts kept the previous recommendation, FBR & Co. dropped their target price from $8.50 to $4. The new note on the price target was released on October 30, 2017, representing the official price target for Iconix Brand Group Inc. stock. Previously, the target price had yet another raise to $6, while Sidoti analysts kept a Neutral rating on ICON stock.
The Average True Range (ATR) for Iconix Brand Group Inc. is set at 0.24, with the Price to Sales ratio for ICON stock in the period of the last 12 months amounting to 0.34. Price to Free Cash Flow for ICON in the course of the last twelve months was 1.20 with Quick ratio for the last quarter at 1.40.
ICON stock trade performance evaluation
Iconix Brand Group Inc. [ICON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.92. With this latest performance, ICON shares gained by 94.41% in over the last four-week period, additionally plugging by 181.98% over the last 6 months – not to mention a rise of 198.10% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ICON stock in for the last two-week period is set at 71.38, with the RSI for the last a single of trading hit 73.65, and the three-weeks RSI is set at 68.10 for Iconix Brand Group Inc. [ICON]. The present Moving Average for the last 50 days of trading for this stock 2.08, while it was recorded at 2.77 for the last single week of trading, and 1.56 for the last 200 days.
Iconix Brand Group Inc. [ICON]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Iconix Brand Group Inc. [ICON] shares currently have an operating margin of +53.13. Iconix Brand Group Inc.’s Net Margin is presently recorded at -6.76.
Return on Total Capital for ICON is now 14.79, given the latest momentum, and Return on Invested Capital for the company is -2.56. Additionally, ICON Total Debt to Total Capital is recorded at 192.87, with Total Debt to Total Assets ending up at 131.62.
Reflecting on the efficiency of the workforce at the company, Iconix Brand Group Inc. [ICON] managed to generate an average of -$67,303 per employee. Receivables Turnover for the company is 2.27 with a Total Asset Turnover recorded at a value of 0.22.Iconix Brand Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.
Earnings per share (EPS) analysis for Iconix Brand Group Inc. [ICON] stock
With the latest financial reports released by the company, Iconix Brand Group Inc. posted 1/share EPS, while the average EPS was predicted by analysts to be reported at 1.15/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -13.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ICON. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Iconix Brand Group Inc. go to 15.00%.
Iconix Brand Group Inc. [ICON]: Insider Ownership positions
There are presently around $10 million, or 22.20% of ICON stock, in the hands of institutional investors. The top three institutional holders of ICON stocks are: MUDRICK CAPITAL MANAGEMENT, L.P. with ownership of 946,179, which is approximately 75.842% of the company’s market cap and around 5.00% of the total institutional ownership; ALLIANZ ASSET MANAGEMENT GMBH, holding 589,609 shares of the stock with an approximate value of $1.84 million in ICON stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $1.79 million in ICON stock with ownership of nearly 146.268% of the company’s market capitalization.
Positions in Iconix Brand Group Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 16 institutional holders increased their position in Iconix Brand Group Inc. [NASDAQ:ICON] by around 1,668,304 shares. Additionally, 9 investors decreased positions by around 462,665 shares, while 7 investors held positions by with 940,645 shares. The mentioned changes placed institutional holdings at 3,071,614 shares, according to the latest SEC report filing. ICON stock had 7 new institutional investments in for a total of 785,597 shares, while 3 institutional investors sold positions of 10,437 shares during the same period.