Ermenegildo Zegna (NYSE:ZGN) Short Interest Update

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,850,000 shares, an increase of 23.3% from the March 15th total of 1,500,000 shares. Approximately 3.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 840,000 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Investors Weigh In On Ermenegildo Zegna

A number of institutional investors have recently modified their holdings of the company. Invesco Ltd. boosted its position 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 acquiring an additional 581,696 shares during the last quarter. Public Investment Fund boosted its position in shares of Ermenegildo Zegna by 57.3% during the 4th quarter. Public Investment Fund now owns 5,834,324 shares of the company's stock valued at $48,192,000 after purchasing an additional 2,124,128 shares in the last quarter. FIL Ltd grew its stake in Ermenegildo Zegna by 18.0% during the fourth quarter. FIL Ltd now owns 1,672,992 shares of the company's stock worth $13,819,000 after purchasing an additional 255,079 shares during the period. Tabor Asset Management LP lifted its stake in Ermenegildo Zegna by 362.0% in 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 period. Finally, Alpine Investment Management Ltd bought a new position in shares of Ermenegildo Zegna during the 4th quarter worth approximately $7,100,000. 12.91% of the stock is owned by institutional investors.

Ermenegildo Zegna Trading Up 3.8 %

Shares of ZGN traded up $0.29 during mid-day trading on Thursday, reaching $7.72. 686,418 shares of the company were exchanged, compared to its average volume of 840,742. The business has a 50 day simple moving average of $7.52 and a two-hundred day simple moving average of $8.02. Ermenegildo Zegna has a 52 week low of $6.05 and a 52 week high of $13.36. The stock has a market capitalization of $3.14 billion, a PE ratio of 14.56 and a beta of 0.73. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. TD Cowen began coverage on Ermenegildo Zegna in a research report on Tuesday, February 18th. They set a "hold" rating and a $10.00 price objective on the stock. Bank of America upgraded Ermenegildo Zegna from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $9.40 to $8.90 in a report on Thursday, January 16th.

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.