American Assets Inc. Takes Position in Ermenegildo Zegna (NYSE:ZGN)

American Assets Inc. acquired a new position in shares of Ermenegildo Zegna (NYSE:ZGN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 70,000 shares of the company's stock, valued at approximately $578,000. Ermenegildo Zegna comprises approximately 0.2% of American Assets Inc.'s portfolio, making the stock its 14th biggest holding.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in Ermenegildo Zegna in the fourth quarter worth approximately $28,000. Entropy Technologies LP acquired a new stake in Ermenegildo Zegna in the fourth quarter valued at approximately $84,000. Verition Fund Management LLC acquired a new stake in Ermenegildo Zegna in the third quarter valued at approximately $149,000. XTX Topco Ltd acquired a new stake in Ermenegildo Zegna in the third quarter valued at approximately $215,000. Finally, Jane Street Group LLC acquired a new stake in Ermenegildo Zegna in the third quarter valued at approximately $222,000. 12.91% of the stock is currently owned by institutional investors.

Ermenegildo Zegna Stock Down 2.5 %

Shares of NYSE:ZGN traded down $0.19 during mid-day trading on Thursday, hitting $7.21. 669,925 shares of the company traded hands, compared to its average volume of 755,907. The stock has a market cap of $2.92 billion, a P/E ratio of 13.59 and a beta of 0.69. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. Ermenegildo Zegna has a 12-month low of $7.13 and a 12-month high of $15.26. The stock has a 50-day moving average price of $8.49 and a two-hundred day moving average price of $8.56.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ZGN shares. BNP Paribas raised Ermenegildo Zegna to a "hold" rating in a research note on Monday, December 2nd. Morgan Stanley started coverage on Ermenegildo Zegna in a research note on Friday, November 22nd. They issued an "underweight" rating and a $7.20 price objective for the company. Bank of America raised Ermenegildo Zegna from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $9.40 to $8.90 in a research note on Thursday, January 16th. Finally, TD Cowen assumed coverage on Ermenegildo Zegna in a research report on Tuesday, February 18th. They set a "hold" rating and a $10.00 target price on the stock.

Ermenegildo Zegna Profile

Ermenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances.