Ermenegildo Zegna (NYSE:ZGN - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 377,489 shares were traded during mid-day trading, a decline of 38% from the previous session's volume of 613,136 shares.The stock last traded at $8.54 and had previously closed at $8.25.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on ZGN shares. Morgan Stanley started coverage on shares of Ermenegildo Zegna in a research note on Friday, November 22nd. They set an "underweight" rating and a $7.20 target price for the company. BNP Paribas raised Ermenegildo Zegna to a "hold" rating in a research report on Monday, December 2nd. Finally, Bank of America lowered Ermenegildo Zegna from a "buy" rating to a "neutral" rating and dropped their target price for the company from $13.00 to $9.80 in a report on Monday, September 23rd.
Get Our Latest Analysis on Ermenegildo Zegna
Ermenegildo Zegna Price Performance
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 firm's fifty day moving average is $8.09 and its 200-day moving average is $9.95.
Institutional Investors Weigh In On Ermenegildo Zegna
A number of hedge funds and other institutional investors have recently bought and sold shares of ZGN. Liontrust Investment Partners LLP purchased a new position in shares of Ermenegildo Zegna in the 2nd quarter valued at about $2,960,000. Roubaix Capital LLC purchased a new position in Ermenegildo Zegna in the third quarter valued at about $2,481,000. Public Investment Fund lifted its position in shares of Ermenegildo Zegna by 25.9% during the 2nd quarter. Public Investment Fund now owns 3,710,196 shares of the company's stock valued at $43,929,000 after acquiring an additional 764,122 shares during the period. Armistice Capital LLC boosted its stake in shares of Ermenegildo Zegna by 547.4% during the 2nd quarter. Armistice Capital LLC now owns 239,235 shares of the company's stock worth $2,833,000 after acquiring an additional 202,281 shares in the last quarter. Finally, QVIDTVM Management LLC acquired a new stake in shares of Ermenegildo Zegna in the 3rd quarter worth approximately $2,908,000. Institutional investors and hedge funds own 12.91% of the company's stock.
Ermenegildo Zegna Company Profile
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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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