Sports Direct boosts stake in Iconix

21st Jan 2016 17:55

(ShareCast News) - Sports Direct took advantage of the recent weakness in equity markets to boost its stake in Nasdaq-listed Iconix Brands to 14.4%, according to an amended filing with that country's stock market regulator, the Securities and Exchange Commission.The company founded by Mike Ashley scooped up approximately 1.15m shares between 14 January and 20 January, when the latest filing was made, at prices of between $5.3876 and $4.9194.Some of the brands managed by the American company included London Fog and Badgley Mischka.Shares of Sports Direct closed 6.1p lower at 397.8p on Thursday, while stock in Iconix was up by 3.49% to $5.34 per share.Iconix's 52-week high was $37.29.