Filing Analysis: As Iconix Brand Group INC (ICON) Market Value Rose, Huber Capital Management LLC Raised Its Holding by $5.54 Million

Filing Analysis: As Iconix Brand Group INC (ICON) Market Value Rose, Huber Capital Management LLC Raised Its Holding by $5.54 Million

Joe Huber increased its stake in Iconix Brand Group Inc (ICON) by 12.08% based on its latest 2016Q3 regulatory filing with the SEC. Huber Capital Management Llc bought 692,528 shares as the company’s stock rose 18.37% with the market. The hedge fund run by Joe Huber held 6.42M shares of the consumer non-durables company at the end of 2016Q3, valued at $52.16 million, up from 5.73M at the end of the previous reported quarter. Huber Capital Management Llc who had been investing in Iconix Brand Group Inc for a number of months, seems to be bullish on the $585.02 million market cap company. The stock is down 2.39% or $0.24 hitting $9.8, despite the positive news. About 86,599 shares traded hands. Iconix Brand Group Inc (NASDAQ:ICON) has risen 24.72% since June 7, 2016 and is uptrending. It has outperformed by 17.30% the S&P500.

Huber Capital Management Llc, which manages about $3.94B and $2.54B US Long portfolio, decreased its stake in American Intl Group Inc (NYSE:AIG) by 60,644 shares to 236,031 shares, valued at $14.01 million in 2016Q3, according to the filing. It also reduced its holding in Argan Inc (NYSE:AGX) by 181,407 shares in the quarter, leaving it with 188,854 shares, and cut its stake in Ca Inc (NASDAQ:CA).

Huber Capital Management Llc is a California-based hedge fund that was founded by Joe Huber. It had more than $3.94 billion assets under management in February, 2014. Taken from Huber Capital Management latest Adv, the fund reported to have 10 full and part-time employees. Among which 6 performing investment advisory and research functions. The hedge fund had between 26-100 clients.

Insitutional Activity: The institutional sentiment decreased to 1.2 in Q3 2016. Its down 0.09, from 1.29 in 2016Q2. The ratio is negative, as 26 funds sold all ICON shares owned while 38 reduced positions. 22 funds bought stakes while 55 increased positions. They now own 46.19 million shares or 4.43% more from 44.23 million shares in 2016Q2. Pinebridge LP last reported 0% of its portfolio in the stock. First Bankshares Sioux Falls accumulated 13,383 shares or 0.3% of the stock. Pnc Financial Group has 141,806 shares for 0% of their US portfolio. Principal Gp last reported 0% of its portfolio in the stock. Rhumbline Advisers has invested 0% of its portfolio in Iconix Brand Group Inc (NASDAQ:ICON). The Wisconsin-based Mason Street Advsr has invested 0% in Iconix Brand Group Inc (NASDAQ:ICON). Geode Management Limited Liability Company holds 410,650 shares or 0% of its portfolio. Legal & General Gru Incorporated Public Limited Co, a United Kingdom-based fund reported 48,496 shares. Ls Advisors Ltd Liability Corporation accumulated 2,096 shares or 0% of the stock. Amer Grp Incorporated Inc, a New York-based fund reported 34,080 shares. Deutsche Bankshares Ag accumulated 0% or 415,792 shares. Pacad Invest has invested 0.04% of its portfolio in Iconix Brand Group Inc (NASDAQ:ICON). Ubs Asset Americas Inc last reported 0% of its portfolio in the stock. Lpl Limited Liability Company owns 14,110 shares or 0% of their US portfolio. First Tru Limited Partnership holds 30,509 shares or 0% of its portfolio.

More notable recent Iconix Brand Group Inc (NASDAQ:ICON) news were published by: Prnewswire.com which released: “Iconix Brand Group to Present at ICR Conference 2017” on December 20, 2016, also Prnewswire.com with their article: “Iconix Brand Group Announces $300 Million Term Loan” published on March 07, 2016, Prnewswire.com published: “Iconix Brand Group Announces Hiring Of Jamie Cygielman As Chief Marketing Officer” on December 07, 2016. More interesting news about Iconix Brand Group Inc (NASDAQ:ICON) were released by: Fool.com and their article: “Why Iconix Brand Group Inc. Shares Tumbled Today” published on March 29, 2016 as well as Prnewswire.com‘s news article titled: “Iconix Brand Group Announces Agreement to Divest Sharper Image Brand” with publication date: December 30, 2016.

According to Zacks Investment Research, “Iconix Brand Group, Inc. is in the business of licensing the CANDIE’S, BONGO, BADGLEY MISCHKA and JOE BOXER trademarks on a variety of footwear, apparel and fashion products. Through its wholly owned subsidiary, Brightstar Footwear, Inc., the Company also arranges for the manufacture of footwear products for mass market and discount retailers under the private label brand of the retailer.”

Iconix Brand Group Inc (NASDAQ:ICON) Ratings Coverage

Out of 6 analysts covering Iconix Brand Group (NASDAQ:ICON), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. $25 is the highest target while $7 is the lowest. The $13.40 average target is 36.73% above today’s ($9.8) stock price. Iconix Brand Group has been the topic of 10 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by TH Capital on Wednesday, November 11. Monness Crespi & Hardt downgraded the stock to “Neutral” rating in Friday, November 6 report. The firm has “Buy” rating by Monness Crespi & Hardt given on Wednesday, August 12. Wunderlich downgraded the shares of ICON in a report on Friday, August 7 to “Hold” rating. The firm earned “Neutral” rating on Friday, September 30 by Guggenheim. As per Friday, August 7, the company rating was maintained by Brean Capital. As per Friday, November 6, the company rating was maintained by Wunderlich. The stock of Iconix Brand Group Inc (NASDAQ:ICON) earned “” rating by Nomura on Friday, August 7. Roth Capital maintained Iconix Brand Group Inc (NASDAQ:ICON) on Wednesday, November 11 with “Buy” rating. Brean Capital downgraded Iconix Brand Group Inc (NASDAQ:ICON) on Friday, November 6 to “Hold” rating.

ICON Company Profile

Iconix Brand Group, Inc., incorporated on June 17, 2005, is a brand management company. The Firm owns a diversified portfolio of consumer brands across women’s, men’s, home and entertainment categories. The Firm operates through five divisions: men’s, women’s, home, entertainment and corporate. 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, Strawberry Shortcake and Artful Dodger, and interests in Material Girl, Peanuts, Ed Hardy, Truth or Dare, Modern Amusement, Buffalo, Nick Graham Hydraulic and PONY brands. It operates in various geographic regions, including the United States, Japan and Other (which principally represent Latin America and Europe).

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