Armistice Capital LLC Acquires 202,281 Shares of Ermenegildo Zegna (NYSE:ZGN)

Armistice Capital LLC boosted its position in Ermenegildo Zegna (NYSE:ZGN - Free Report) by 547.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,235 shares of the company's stock after buying an additional 202,281 shares during the quarter. Armistice Capital LLC owned approximately 0.06% of Ermenegildo Zegna worth $2,833,000 at the end of the most recent reporting period.

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Several other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC grew its position in shares of Ermenegildo Zegna by 525.0% in the second quarter. nVerses Capital LLC now owns 2,500 shares of the company's stock valued at $30,000 after purchasing an additional 2,100 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Ermenegildo Zegna in the 1st quarter valued at approximately $353,000. Quadrature Capital Ltd increased its position in Ermenegildo Zegna by 49.7% in the 4th quarter. Quadrature Capital Ltd now owns 38,579 shares of the company's stock worth $446,000 after buying an additional 12,805 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Ermenegildo Zegna during the first quarter worth approximately $563,000. Finally, Liontrust Investment Partners LLP bought a new stake in shares of Ermenegildo Zegna in the second quarter valued at approximately $2,960,000. Institutional investors own 12.91% of the company's stock.

Ermenegildo Zegna Stock Performance

ZGN traded up $0.48 on Friday, hitting $9.75. 2,350,401 shares of the stock traded hands, compared to its average volume of 532,822. The business has a fifty day moving average price of $10.16 and a two-hundred day moving average price of $11.70. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.95 billion, a PE ratio of 17.49, a P/E/G ratio of 2.15 and a beta of 0.62. Ermenegildo Zegna has a 52 week low of $7.89 and a 52 week high of $15.26.

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Analyst Ratings Changes

Separately, Bank of America lowered shares of Ermenegildo Zegna from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $13.00 to $9.80 in a research report on Monday.

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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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