Ermenegildo Zegna (NYSE:ZGN - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 323,433 shares changed hands during trading, a decline of 45% from the previous session's volume of 587,996 shares.The stock last traded at $8.02 and had previously closed at $7.69.
Analyst Ratings Changes
ZGN has been the topic of a number of analyst reports. Bank of America raised Ermenegildo Zegna from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $9.40 to $8.90 in a research note on Thursday. Morgan Stanley started coverage on shares of Ermenegildo Zegna in a research note on Friday, November 22nd. They issued an "underweight" rating and a $7.20 target price on the stock. Finally, BNP Paribas raised shares of Ermenegildo Zegna to a "hold" rating in a report on Monday, December 2nd.
Get Our Latest Research Report on Ermenegildo Zegna
Ermenegildo Zegna Price Performance
The business has a 50-day simple moving average of $8.07 and a 200 day simple moving average of $9.16. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24.
Institutional Investors Weigh In On Ermenegildo Zegna
Institutional investors and hedge funds have recently modified their holdings of the stock. Public Investment Fund grew its stake in Ermenegildo Zegna by 25.9% in the second quarter. Public Investment Fund now owns 3,710,196 shares of the company's stock worth $43,929,000 after purchasing an additional 764,122 shares during the period. QVIDTVM Management LLC purchased a new stake in Ermenegildo Zegna in the third quarter worth about $2,908,000. Roubaix Capital LLC bought a new position in shares of Ermenegildo Zegna during the third quarter valued at approximately $2,481,000. Armistice Capital LLC lifted its holdings in shares of Ermenegildo Zegna by 547.4% during the second quarter. Armistice Capital LLC now owns 239,235 shares of the company's stock valued at $2,833,000 after purchasing an additional 202,281 shares during the last quarter. Finally, Arizona PSPRS Trust bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter worth approximately $979,000. 12.91% of the stock is owned by hedge funds and other institutional investors.
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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