Morgan Stanley started coverage on shares of Ermenegildo Zegna (NYSE:ZGN - Free Report) in a report released on Friday, MarketBeat.com reports. The brokerage issued an underweight rating and a $7.20 target price on the stock.
Separately, Bank of America downgraded Ermenegildo Zegna from a "buy" rating to a "neutral" rating and cut their price target for the stock from $13.00 to $9.80 in a research note on Monday, September 23rd.
View Our Latest Report on Ermenegildo Zegna
Ermenegildo Zegna Price Performance
Shares of Ermenegildo Zegna stock traded up $0.03 on Friday, hitting $7.70. 1,438,232 shares of the company traded hands, compared to its average volume of 601,062. Ermenegildo Zegna has a 12-month low of $7.13 and a 12-month high of $15.26. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $8.31 and a 200 day moving average price of $10.31.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. nVerses Capital LLC increased its position in shares of Ermenegildo Zegna by 525.0% during the second quarter. nVerses Capital LLC now owns 2,500 shares of the company's stock valued at $30,000 after purchasing an additional 2,100 shares during the period. Verition Fund Management LLC bought a new stake in shares of Ermenegildo Zegna during the third quarter valued at approximately $149,000. XTX Topco Ltd bought a new stake in shares of Ermenegildo Zegna during the third quarter valued at approximately $215,000. Jane Street Group LLC bought a new stake in shares of Ermenegildo Zegna during the third quarter valued at approximately $222,000. Finally, SG Americas Securities LLC bought a new stake in shares of Ermenegildo Zegna during the third quarter valued at approximately $330,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.
About Ermenegildo Zegna
(
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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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