GAM Holding AG reduced its position in shares of Ermenegildo Zegna (NYSE:ZGN - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 707,337 shares of the company's stock after selling 68,400 shares during the quarter. GAM Holding AG owned 0.17% of Ermenegildo Zegna worth $5,843,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Entropy Technologies LP acquired a new position in shares of Ermenegildo Zegna during the 4th quarter worth about $84,000. Verition Fund Management LLC acquired a new stake in Ermenegildo Zegna in the 3rd quarter valued at about $149,000. XTX Topco Ltd acquired a new stake in shares of Ermenegildo Zegna during the 3rd quarter worth approximately $215,000. Jane Street Group LLC acquired a new stake in shares of Ermenegildo Zegna during the 3rd quarter worth approximately $222,000. Finally, PDT Partners LLC increased its holdings 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 buying an additional 32,779 shares during the last quarter. 12.91% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on ZGN. TD Cowen initiated coverage on shares of Ermenegildo Zegna in a research report on Tuesday. They set a "hold" rating and a $10.00 price objective for the company. BNP Paribas raised shares of Ermenegildo Zegna to a "hold" rating in a research report on Monday, December 2nd. Morgan Stanley began coverage on shares of Ermenegildo Zegna in a research note on Friday, November 22nd. They set an "underweight" rating and a $7.20 price target on the stock. Finally, Bank of America upgraded shares of Ermenegildo Zegna from a "neutral" rating to a "buy" rating and cut their price target for the stock from $9.40 to $8.90 in a research note on Thursday, January 16th.
Read Our Latest Analysis on ZGN
Ermenegildo Zegna Trading Down 1.3 %
Shares of ZGN stock traded down $0.12 during trading hours on Friday, hitting $8.76. The company's stock had a trading volume of 781,023 shares, compared to its average volume of 750,739. The business has a fifty day moving average of $8.58 and a 200-day moving average of $8.76. Ermenegildo Zegna has a twelve month low of $7.13 and a twelve month high of $15.26. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24.
About Ermenegildo Zegna
(
Free Report)
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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