Portolan Capital Management LLC acquired a new stake in Ermenegildo Zegna (NYSE:ZGN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 405,737 shares of the company's stock, valued at approximately $3,351,000. Portolan Capital Management LLC owned approximately 0.10% of Ermenegildo Zegna as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in ZGN. Alpine Investment Management Ltd acquired a new position in Ermenegildo Zegna during the 4th quarter worth approximately $7,100,000. Invesco Ltd. increased its holdings in Ermenegildo Zegna by 10.0% in the fourth quarter. Invesco Ltd. now owns 6,386,184 shares of the company's stock valued at $52,750,000 after buying an additional 581,696 shares during the last quarter. FIL Ltd raised its stake in Ermenegildo Zegna by 18.0% in the fourth quarter. FIL Ltd now owns 1,672,992 shares of the company's stock valued at $13,819,000 after buying an additional 255,079 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Ermenegildo Zegna during the 4th quarter worth about $1,907,000. Finally, American Assets Inc. acquired a new stake in shares of Ermenegildo Zegna during the 4th quarter worth about $578,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.
Ermenegildo Zegna Stock Performance
Shares of ZGN stock traded up $0.06 during trading hours on Friday, hitting $6.92. The stock had a trading volume of 619,157 shares, compared to its average volume of 657,727. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79. The firm has a market capitalization of $2.82 billion, a PE ratio of 13.05 and a beta of 0.73. The stock's 50 day moving average is $7.63 and its 200 day moving average is $8.05. Ermenegildo Zegna has a twelve month low of $6.05 and a twelve month high of $13.36.
Analyst Upgrades and Downgrades
Several brokerages have commented on ZGN. TD Cowen started coverage on shares of Ermenegildo Zegna in a research note on Tuesday, February 18th. They issued a "hold" rating and a $10.00 price target on the stock. Bank of America raised shares of Ermenegildo Zegna from a "neutral" rating to a "buy" rating and reduced their price target for the company from $9.40 to $8.90 in a research report on Thursday, January 16th.
View Our Latest Analysis on ZGN
Ermenegildo Zegna Company Profile
(
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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