Ermenegildo Zegna N.V. (NYSE:ZGN) Sees Significant 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 - ) saw a large 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. Currently,6.9% of the company's shares are sold short. Based on an average daily trading volume, of 1,270,000 shares, the days-to-cover ratio is currently 3.0 days. Based on an average daily trading volume, of 1,270,000 shares, the days-to-cover ratio is currently 3.0 days. Currently,6.9% of the company's shares are sold short.

Institutional Trading of Ermenegildo Zegna

Several institutional investors and hedge funds have recently bought and sold shares of ZGN. Public Investment Fund boosted its holdings 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 acquiring an additional 2,124,128 shares during the period. Ceredex Value Advisors LLC purchased a new position in Ermenegildo Zegna during the 1st quarter valued at about $7,057,000. Tabor Asset Management LP boosted its holdings in Ermenegildo Zegna by 362.0% during the 4th quarter. Tabor Asset Management LP now owns 959,643 shares of the company's stock valued at $7,927,000 after acquiring an additional 751,930 shares during the period. Millennium Management LLC boosted its holdings in Ermenegildo Zegna by 182.8% during the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company's stock valued at $8,503,000 after acquiring an additional 742,680 shares during the period. Finally, Osborne Partners Capital Management LLC purchased a new position in Ermenegildo Zegna during the 1st quarter valued at about $4,984,000. 12.91% of the stock is currently owned by hedge funds and other institutional investors.

Ermenegildo Zegna Stock Up 1.7%

Shares of ZGN opened at $7.89 on Monday. The firm has a market cap of $3.21 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 2.91 and a beta of 0.72. Ermenegildo Zegna has a 12-month low of $6.05 and a 12-month high of $10.99. The company's 50-day moving average price is $8.78 and its 200 day moving average price is $8.28. 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 business 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 an increase from Ermenegildo Zegna's previous annual dividend of $0.12. The ex-dividend date was Monday, July 7th. This represents a yield of 150.0%.

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.

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