Artisan Partners Limited Partnership cut its position in Ermenegildo Zegna (NYSE:ZGN - Free Report) by 23.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,703,178 shares of the company's stock after selling 806,660 shares during the quarter. Artisan Partners Limited Partnership owned about 0.67% of Ermenegildo Zegna worth $22,328,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Ermenegildo Zegna in the 4th quarter valued at about $28,000. Entropy Technologies LP bought a new position in shares of Ermenegildo Zegna in the fourth quarter valued at approximately $84,000. Verition Fund Management LLC acquired a new position in shares of Ermenegildo Zegna during the third quarter valued at approximately $149,000. Next Capital Management LLC bought a new stake in Ermenegildo Zegna during the fourth quarter worth approximately $151,000. Finally, XTX Topco Ltd bought a new stake in Ermenegildo Zegna during the third quarter worth approximately $215,000. 12.91% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ZGN has been the topic of several research analyst reports. Bank of America upgraded Ermenegildo Zegna from a "neutral" rating to a "buy" rating and lowered their price target for the company from $9.40 to $8.90 in a research report on Thursday, January 16th. TD Cowen started coverage on shares of Ermenegildo Zegna in a research report on Tuesday, February 18th. They issued a "hold" rating and a $10.00 price target on the stock.
Get Our Latest Stock Report on ZGN
Ermenegildo Zegna Price Performance
Shares of NYSE ZGN traded up $0.01 during trading on Wednesday, hitting $7.38. The company had a trading volume of 169,892 shares, compared to its average volume of 804,160. Ermenegildo Zegna has a 52 week low of $7.07 and a 52 week high of $14.23. The business's 50-day moving average is $8.31 and its 200 day moving average is $8.27. The company has a market cap of $2.99 billion, a P/E ratio of 13.92 and a beta of 0.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41.
About Ermenegildo Zegna
(
Free Report)
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.
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