Cubist Systematic Strategies LLC Takes Position in Ermenegildo Zegna (NYSE:ZGN)

Cubist Systematic Strategies LLC bought a new stake in Ermenegildo Zegna (NYSE:ZGN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 84,029 shares of the company's stock, valued at approximately $694,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Invesco Ltd. increased its stake in shares of Ermenegildo Zegna by 10.0% during the fourth quarter. Invesco Ltd. now owns 6,386,184 shares of the company's stock valued at $52,750,000 after acquiring an additional 581,696 shares during the period. Public Investment Fund increased its position in shares of Ermenegildo Zegna by 57.3% in the fourth quarter. Public Investment Fund now owns 5,834,324 shares of the company's stock valued at $48,192,000 after acquiring an additional 2,124,128 shares during the last quarter. FIL Ltd boosted its position in shares of 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 acquiring an additional 255,079 shares during the period. Alpine Investment Management Ltd acquired a new position in Ermenegildo Zegna in the 4th quarter worth about $7,100,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Ermenegildo Zegna during the 4th quarter valued at $4,172,000. Institutional investors and hedge funds own 12.91% of the company's stock.

Ermenegildo Zegna Stock Up 0.6%

Shares of ZGN traded up $0.05 during midday trading on Wednesday, hitting $8.64. The company had a trading volume of 63,437 shares, compared to its average volume of 692,000. 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 52 week low of $6.05 and a 52 week high of $12.98. The company's 50 day moving average price is $7.50 and its 200 day moving average price is $8.01. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 16.27 and a beta of 0.72.

Analyst Upgrades and Downgrades

Separately, TD Cowen began coverage on shares of Ermenegildo Zegna in a research report on Tuesday, February 18th. They issued a "hold" rating and a $10.00 target price for the company.

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.