NEW YORK (TheStreet) -- Iconix Brand Group  (ICON - Get Report) stock closed up by 4.72% to $7.98 on Wednesday, after the company named John Haugh as the company's new CEO.

Haugh, who has worked in management at companies such as Luxottica Retail, will serve as CEO starting on April 1. Haugh currently serves on the Aeropostale (ARO) board of directors. 

The SEC is investigating Iconix's "accounting treatment for the formation of certain joint ventures," the company said last year. Iconix's CEO, chief financial officer and chief operating officer resigned last year, according to the Wall Street Journal. 

"Our board has identified in John a talented and experienced executive who can focus Iconix on accelerating organic growth with our portfolio of brands and on exploring opportunities for new acquisitions," Interim CEO Peter Cuneo said in a statement on Tuesday.

Based in New York, Iconix owns clothing brands such as Candie's, Bongo and Mossimo

Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rates this stock as a "sell" with a ratings score of D+. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

You can view the full analysis from the report here: ICON

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