QVIDTVM Management LLC Makes New $2.91 Million Investment in Ermenegildo Zegna (NYSE:ZGN)

QVIDTVM Management LLC purchased a new stake in Ermenegildo Zegna (NYSE:ZGN - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 295,562 shares of the company's stock, valued at approximately $2,908,000. Ermenegildo Zegna accounts for 2.0% of QVIDTVM Management LLC's holdings, making the stock its 7th biggest position. QVIDTVM Management LLC owned approximately 0.07% of Ermenegildo Zegna at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. nVerses Capital LLC increased its holdings in Ermenegildo Zegna by 525.0% in the 2nd 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 in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Ermenegildo Zegna in the third quarter valued at about $330,000. Roubaix Capital LLC acquired a new position in Ermenegildo Zegna during the 3rd quarter worth approximately $2,481,000. Armistice Capital LLC boosted its holdings in Ermenegildo Zegna by 547.4% in the 2nd quarter. Armistice Capital LLC now owns 239,235 shares of the company's stock worth $2,833,000 after acquiring an additional 202,281 shares during the period. Finally, Liontrust Investment Partners LLP acquired a new stake in Ermenegildo Zegna in the second quarter valued at approximately $2,960,000. 12.91% of the stock is currently owned by hedge funds and other institutional investors.

Ermenegildo Zegna Price Performance

NYSE ZGN traded down $0.15 on Tuesday, hitting $7.82. 973,621 shares of the stock traded hands, compared to its average volume of 604,324. The stock has a 50-day moving average of $8.22 and a 200 day moving average of $10.20. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. Ermenegildo Zegna has a twelve month low of $7.13 and a twelve month high of $15.26.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Bank of America lowered shares of Ermenegildo Zegna from a "buy" rating to a "neutral" rating and lowered their price target for the company from $13.00 to $9.80 in a report on Monday, September 23rd. Morgan Stanley began coverage on Ermenegildo Zegna in a research report on Friday. They set an "underweight" rating and a $7.20 target price on the stock.

About Ermenegildo Zegna

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.