Tabor Asset Management LP Sells 407,105 Shares of Ermenegildo Zegna (NYSE:ZGN)

Tabor Asset Management LP trimmed its position in Ermenegildo Zegna (NYSE:ZGN - Free Report) by 66.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,713 shares of the company's stock after selling 407,105 shares during the quarter. Tabor Asset Management LP owned approximately 0.05% of Ermenegildo Zegna worth $2,044,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. nVerses Capital LLC raised its position in Ermenegildo Zegna by 525.0% during the second quarter. nVerses Capital LLC now owns 2,500 shares of the company's stock valued at $30,000 after acquiring an additional 2,100 shares in the last quarter. Verition Fund Management LLC bought a new position in Ermenegildo Zegna during the third quarter valued at approximately $149,000. SG Americas Securities LLC bought a new position in Ermenegildo Zegna during the third quarter valued at approximately $330,000. PDT Partners LLC raised its position in shares of Ermenegildo Zegna by 144.0% in the third quarter. PDT Partners LLC now owns 55,549 shares of the company's stock valued at $547,000 after purchasing an additional 32,779 shares during the period. Finally, Arizona PSPRS Trust bought a new position in shares of Ermenegildo Zegna in the third quarter valued at approximately $979,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Ermenegildo Zegna Stock Down 1.3 %

Shares of NYSE:ZGN traded down $0.11 on Friday, hitting $8.14. The stock had a trading volume of 740,130 shares, compared to its average volume of 615,947. 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. The firm's 50 day moving average price is $8.12 and its 200-day moving average price is $9.98.

Analyst Upgrades and Downgrades

ZGN has been the topic of a number of recent analyst reports. BNP Paribas raised shares of Ermenegildo Zegna to a "hold" rating in a research report on Monday. Bank of America downgraded shares of Ermenegildo Zegna from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $13.00 to $9.80 in a research note on Monday, September 23rd. Finally, Morgan Stanley initiated coverage on shares of Ermenegildo Zegna in a research note on Friday, November 22nd. They issued an "underweight" rating and a $7.20 price objective on the stock.

Ermenegildo Zegna Company 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.