In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Iconix Brand Group Inc. (NASDAQ:ICON) reported that Sports Direct International Plc. has picked up 7,561,908 of common stock as of 2017-06-07.
The acquisition brings the aggregate amount owned by Sports Direct International Plc. to a total of 7,561,908 representing less than 13.3% stake in the company.
For those not familiar with the company, 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, home and entertainment categories. The Company operates through five segments: men’s, women’s, home, entertainment 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, Sharper Image, 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).
A glance at Iconix Brand Group Inc. (NASDAQ:ICON)’s key stats reveals a current market capitalization of 393.92 Million based on 57.06 Million shares outstanding and a price at last close of $6.60 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-05-09, Cuneo picked up 50,000 at a purchase price of $7.99. This brings their total holding to 310,838 as of the date of the filing.
On the sell side, the most recent transaction saw Blumberg unload 11,000 shares at a sale price of $7.61. This brings their total holding to 138,515.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Iconix Brand Group Inc. (NASDAQ:ICON) as things move forward to see if its progress aligns with these transactions.
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