Capital Research Global Investors Has $59.91 Million Holdings in Ermenegildo Zegna (NYSE:ZGN)

Capital Research Global Investors trimmed its holdings in Ermenegildo Zegna (NYSE:ZGN - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,252,513 shares of the company's stock after selling 1,313,458 shares during the period. Capital Research Global Investors owned 1.79% of Ermenegildo Zegna worth $59,906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZGN. SBI Securities Co. Ltd. acquired a new position in Ermenegildo Zegna during the fourth quarter valued at approximately $28,000. Entropy Technologies LP acquired a new position in Ermenegildo Zegna during the fourth quarter valued at approximately $84,000. Next Capital Management LLC acquired a new position in Ermenegildo Zegna during the fourth quarter valued at approximately $151,000. Dynamic Technology Lab Private Ltd acquired a new position in Ermenegildo Zegna during the fourth quarter valued at approximately $151,000. Finally, Jane Street Group LLC acquired a new position in Ermenegildo Zegna during the third quarter valued at approximately $222,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on ZGN shares. TD Cowen started coverage on shares of Ermenegildo Zegna in a research report on Tuesday, February 18th. They set a "hold" rating and a $10.00 price objective for the company. Bank of America upgraded shares of Ermenegildo Zegna from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $9.40 to $8.90 in a research report on Thursday, January 16th.

Ermenegildo Zegna Price Performance

Shares of NYSE:ZGN traded up $0.33 during trading on Friday, hitting $8.02. 3,046,265 shares of the company were exchanged, compared to its average volume of 670,682. The business's 50 day moving average is $7.48 and its 200-day moving average is $7.99. The company has a market capitalization of $3.27 billion, a P/E ratio of 15.13 and a beta of 0.73. 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 1-year low of $6.05 and a 1-year high of $13.36.

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.