Short Interest in Ermenegildo Zegna (NYSE:ZGN) Decreases By 13.6%

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 1,590,000 shares, a drop of 13.6% from the December 31st total of 1,840,000 shares. Based on an average trading volume of 850,300 shares, the short-interest ratio is presently 1.9 days. Approximately 2.6% of the shares of the company are sold short.

Hedge Funds Weigh In On Ermenegildo Zegna

Hedge funds and other institutional investors have recently bought and sold shares of the company. Entropy Technologies LP purchased a new stake in shares of Ermenegildo Zegna during the 4th quarter worth $84,000. XTX Topco Ltd purchased a new stake in shares of Ermenegildo Zegna during the 3rd quarter worth $215,000. Jane Street Group LLC purchased a new stake in shares of Ermenegildo Zegna during the 3rd quarter worth $222,000. Arizona PSPRS Trust purchased a new stake in shares of Ermenegildo Zegna during the 3rd quarter worth $979,000. Finally, PDT Partners LLC boosted its position in shares of Ermenegildo Zegna by 144.0% during the 3rd quarter. PDT Partners LLC now owns 55,549 shares of the company's stock worth $547,000 after purchasing an additional 32,779 shares in the last quarter. 12.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Ermenegildo Zegna in a research report on Friday, November 22nd. They set an "underweight" rating and a $7.20 target price on the stock. BNP Paribas upgraded shares of Ermenegildo Zegna to a "hold" rating in a research report on Monday, December 2nd. Finally, Bank of America upgraded 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.

Ermenegildo Zegna Price Performance

NYSE:ZGN traded down $0.25 during midday trading on Monday, reaching $8.83. The stock had a trading volume of 549,527 shares, compared to its average volume of 887,466. The firm has a fifty day simple moving average of $8.39 and a two-hundred day simple moving average of $8.95. Ermenegildo Zegna has a 12-month low of $7.13 and a 12-month high of $15.26. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41.

Ermenegildo Zegna Company Profile

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.