Roubaix Capital LLC Buys New Position in Ermenegildo Zegna (NYSE:ZGN)

Roubaix Capital LLC acquired a new position in shares of Ermenegildo Zegna (NYSE:ZGN - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 252,158 shares of the company's stock, valued at approximately $2,481,000. Roubaix Capital LLC owned 0.06% of Ermenegildo Zegna at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZGN. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Ermenegildo Zegna during the first quarter worth $353,000. Susquehanna Fundamental Investments LLC acquired a new position in Ermenegildo Zegna in the first quarter valued at about $563,000. Capital Research Global Investors acquired a new position in Ermenegildo Zegna in the first quarter valued at about $54,202,000. Capital World Investors raised its stake in Ermenegildo Zegna by 34.6% in the first quarter. Capital World Investors now owns 5,195,013 shares of the company's stock valued at $76,107,000 after purchasing an additional 1,335,945 shares in the last quarter. Finally, Quadrature Capital Ltd raised its stake in Ermenegildo Zegna by 162.0% in the first quarter. Quadrature Capital Ltd now owns 101,067 shares of the company's stock valued at $1,483,000 after purchasing an additional 62,488 shares in the last quarter. 12.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Bank of America downgraded Ermenegildo Zegna from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $13.00 to $9.80 in a research note on Monday, September 23rd.

Ermenegildo Zegna Stock Performance

NYSE ZGN traded down $0.21 during trading on Thursday, hitting $7.60. 355,296 shares of the company's stock were exchanged, compared to its average volume of 539,458. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24. Ermenegildo Zegna has a fifty-two week low of $7.54 and a fifty-two week high of $15.26. The stock's 50 day moving average price is $9.10 and its two-hundred day moving average price is $10.77.

Ermenegildo Zegna 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.