Ermenegildo Zegna (NYSE:ZGN - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $6.57 and last traded at $6.66, with a volume of 279595 shares trading hands. The stock had previously closed at $7.38.
Analysts Set New Price Targets
Several analysts have issued reports on ZGN shares. Bank of America raised shares of Ermenegildo Zegna from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $9.40 to $8.90 in a research report on Thursday, January 16th. TD Cowen began coverage on Ermenegildo Zegna in a research note on Tuesday, February 18th. They set a "hold" rating and a $10.00 target price for the company.
Read Our Latest Stock Report on Ermenegildo Zegna
Ermenegildo Zegna Stock Down 4.6 %
The stock has a market capitalization of $2.52 billion, a P/E ratio of 11.66 and a beta of 0.73. 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 stock's 50 day simple moving average is $8.13 and its 200 day simple moving average is $8.20.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Invesco Ltd. increased its stake in Ermenegildo Zegna by 10.0% during the fourth quarter. Invesco Ltd. now owns 6,386,184 shares of the company's stock valued at $52,750,000 after purchasing an additional 581,696 shares during the last quarter. Public Investment Fund grew its position in Ermenegildo Zegna by 57.3% in the 4th quarter. Public Investment Fund now owns 5,834,324 shares of the company's stock worth $48,192,000 after purchasing an additional 2,124,128 shares during the last quarter. FIL Ltd increased its stake in shares of Ermenegildo Zegna by 18.0% in the fourth quarter. FIL Ltd now owns 1,672,992 shares of the company's stock valued at $13,819,000 after purchasing an additional 255,079 shares during the period. Tabor Asset Management LP raised its holdings in shares of Ermenegildo Zegna by 362.0% during the fourth quarter. Tabor Asset Management LP now owns 959,643 shares of the company's stock valued at $7,927,000 after buying an additional 751,930 shares during the last quarter. Finally, Alpine Investment Management Ltd bought a new position in Ermenegildo Zegna in the 4th quarter worth approximately $7,100,000. Institutional investors own 12.91% of the company's stock.
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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