Ermenegildo Zegna N.V. (NYSE:ZGN) Sees Large Increase in Short Interest

Key Points

• Ermenegildo Zegna N.V. experienced a significant 213.1% increase in short interest, totaling 3,820,000 shares as of July 15th, representing 6.9% of the company's shares sold short.
• The company recently increased its annual dividend from $0.12 to $0.1361 per share, yielding 150.0%, with the dividend paid on July 29th.
• Public Investment Fund boosted its holdings in Ermenegildo Zegna by 57.3% during the 4th quarter, indicating strong support from institutional investors.

Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totaling 3,820,000 shares, anincreaseof213.1% from the June 30th total of 1,220,000 shares. Based on an average trading volume of 1,270,000 shares, the days-to-cover ratio is presently 3.0 days. Currently,6.9% of the company's stock are sold short. Currently,6.9% of the company's stock are sold short. Based on an average trading volume of 1,270,000 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new position in Ermenegildo Zegna in the first quarter valued at about $43,000. Mirabella Financial Services LLP bought a new stake in Ermenegildo Zegna during the 4th quarter valued at approximately $87,000. Quantbot Technologies LP acquired a new position in shares of Ermenegildo Zegna during the first quarter valued at about $80,000. ProShare Advisors LLC bought a new stake in shares of Ermenegildo Zegna during the second quarter valued at approximately $108,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Ermenegildo Zegna in the 2nd quarter valued at $115,000. Institutional investors and hedge funds own 12.91% of the company's stock.

Ermenegildo Zegna Stock Up 1.2%

ZGN stock traded up $0.09 during mid-day trading on Friday, hitting $7.87. 669,755 shares of the company were exchanged, compared to its average volume of 1,038,108. The firm has a fifty day simple moving average of $8.72 and a 200 day simple moving average of $8.27. Ermenegildo Zegna has a twelve month low of $6.05 and a twelve month high of $10.59. The company has a market capitalization of $3.21 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 2.93 and a beta of 0.72. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.20.

Ermenegildo Zegna Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Tuesday, July 29th. Investors of record on Monday, July 7th were issued a $0.1361 dividend. This is a positive change from Ermenegildo Zegna's previous annual dividend of $0.12. The ex-dividend date of this dividend was Monday, July 7th. This represents a yield of 150.0%.

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.