Ermenegildo Zegna (NYSE:ZGN - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $7.76, but opened at $7.51. Ermenegildo Zegna shares last traded at $7.61, with a volume of 153,539 shares changing hands.
Analyst Ratings Changes
Several analysts recently issued reports on ZGN shares. BNP Paribas upgraded Ermenegildo Zegna to a "hold" rating in a report on Monday, December 2nd. TD Cowen began coverage on shares of Ermenegildo Zegna in a research note on Tuesday, February 18th. They issued a "hold" rating and a $10.00 target price for the company. Finally, Bank of America raised shares of Ermenegildo Zegna from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $9.40 to $8.90 in a research report on Thursday, January 16th.
Read Our Latest Stock Analysis on Ermenegildo Zegna
Ermenegildo Zegna Stock Performance
The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 13.99 and a beta of 0.69. The company has a fifty day moving average of $8.34 and a two-hundred day moving average of $8.29.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in ZGN. Public Investment Fund increased its position in Ermenegildo Zegna by 57.3% during 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 in the last quarter. Alpine Investment Management Ltd acquired a new position in shares of Ermenegildo Zegna during the fourth quarter worth $7,100,000. Tabor Asset Management LP lifted its stake in shares of Ermenegildo Zegna by 362.0% in the 4th quarter. Tabor Asset Management LP now owns 959,643 shares of the company's stock valued at $7,927,000 after acquiring an additional 751,930 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Ermenegildo Zegna by 10.0% during the 4th quarter. Invesco Ltd. now owns 6,386,184 shares of the company's stock valued at $52,750,000 after acquiring an additional 581,696 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in Ermenegildo Zegna during the 4th quarter worth $4,172,000. 12.91% of the stock is owned by 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.
Further Reading
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