Capital Research Global Investors Decreases Stock Position in Ermenegildo Zegna (NYSE:ZGN)

Capital Research Global Investors lessened its stake in shares of Ermenegildo Zegna (NYSE:ZGN - Free Report) by 15.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,252,513 shares of the company's stock after selling 1,313,458 shares during the period. Capital Research Global Investors owned 1.79% of Ermenegildo Zegna worth $59,906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ZGN. SBI Securities Co. Ltd. acquired a new position in shares of Ermenegildo Zegna in the 4th quarter valued at $28,000. Entropy Technologies LP purchased a new stake in Ermenegildo Zegna in the 4th quarter valued at about $84,000. Dynamic Technology Lab Private Ltd acquired a new position in Ermenegildo Zegna in the fourth quarter valued at about $151,000. Next Capital Management LLC purchased a new position in Ermenegildo Zegna during the fourth quarter worth about $151,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in shares of Ermenegildo Zegna during the fourth quarter valued at about $218,000. Institutional investors and hedge funds own 12.91% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ZGN. Bank of America upgraded shares of Ermenegildo Zegna from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $9.40 to $8.90 in a report on Thursday, January 16th. TD Cowen initiated coverage on Ermenegildo Zegna in a research note on Tuesday, February 18th. They set a "hold" rating and a $10.00 price target on the stock.

Ermenegildo Zegna Stock Up 4.3 %

Shares of ZGN traded up $0.33 during mid-day trading on Friday, hitting $8.02. 3,046,265 shares of the company's stock were exchanged, compared to its average volume of 669,109. The stock's 50-day moving average is $7.50 and its 200-day moving average is $8.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41. Ermenegildo Zegna has a fifty-two week low of $6.05 and a fifty-two week high of $13.36. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 15.13 and a beta of 0.73.

About Ermenegildo Zegna

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.