Ermenegildo Zegna (NYSE:ZGN - Get Free Report) shares fell 2.7% during mid-day trading on Thursday . The company traded as low as $8.40 and last traded at $8.40. 255,568 shares were traded during mid-day trading, a decline of 59% from the average session volume of 617,091 shares. The stock had previously closed at $8.63.
Analysts Set New Price Targets
ZGN has been the topic of a number of research reports. Bank of America cut Ermenegildo Zegna from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $13.00 to $9.80 in a report on Monday, September 23rd. BNP Paribas upgraded shares of Ermenegildo Zegna to a "hold" rating in a research report on Monday, December 2nd. Finally, Morgan Stanley initiated coverage on Ermenegildo Zegna in a report on Friday, November 22nd. They issued an "underweight" rating and a $7.20 price objective on the stock.
Check Out Our Latest Stock Analysis on ZGN
Ermenegildo Zegna Price Performance
The stock has a market cap of $3.40 billion, a PE ratio of 19.51 and a beta of 0.68. The business's 50-day simple moving average is $8.02 and its 200-day simple moving average is $9.58. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of ZGN. nVerses Capital LLC grew its position in shares of Ermenegildo Zegna by 525.0% in the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the company's stock worth $30,000 after buying an additional 2,100 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Ermenegildo Zegna in the third quarter worth $149,000. XTX Topco Ltd bought a new stake in Ermenegildo Zegna in the third quarter valued at $215,000. Jane Street Group LLC bought a new stake in Ermenegildo Zegna in the third quarter valued at $222,000. Finally, PDT Partners LLC increased its position in Ermenegildo Zegna by 144.0% during the 3rd quarter. PDT Partners LLC now owns 55,549 shares of the company's stock valued at $547,000 after purchasing an additional 32,779 shares during the period. Hedge funds and other 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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