Ermenegildo Zegna (NYSE:ZGN) Shares Bought by CastleKnight Management LP

CastleKnight Management LP grew its stake in shares of Ermenegildo Zegna (NYSE:ZGN - Free Report) by 49.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 158,700 shares of the company's stock after purchasing an additional 52,505 shares during the quarter. CastleKnight Management LP's holdings in Ermenegildo Zegna were worth $1,311,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Public Investment Fund raised its position in Ermenegildo Zegna by 57.3% during the 4th quarter. Public Investment Fund now owns 5,834,324 shares of the company's stock valued at $48,192,000 after purchasing an additional 2,124,128 shares in the last quarter. Alpine Investment Management Ltd purchased a new stake in Ermenegildo Zegna in the fourth quarter worth about $7,100,000. Invesco Ltd. grew its holdings in Ermenegildo Zegna by 10.0% during the 4th quarter. Invesco Ltd. now owns 6,386,184 shares of the company's stock worth $52,750,000 after acquiring an additional 581,696 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Ermenegildo Zegna during the 4th quarter valued at about $4,172,000. Finally, Portolan Capital Management LLC bought a new stake in shares of Ermenegildo Zegna in the 4th quarter valued at about $3,351,000. 12.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. TD Cowen assumed coverage on Ermenegildo Zegna in a research note 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 reduced their price objective for the stock from $9.40 to $8.90 in a research note on Thursday, January 16th.

Ermenegildo Zegna Stock Performance

NYSE ZGN traded up $0.02 during mid-day trading on Friday, reaching $8.27. 535,766 shares of the stock were exchanged, compared to its average volume of 685,116. The company has a market capitalization of $3.37 billion, a P/E ratio of 15.60 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41. The business's 50 day moving average is $7.36 and its 200-day moving average is $7.97. Ermenegildo Zegna has a 1 year low of $6.05 and a 1 year high of $13.36.

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.