Ermenegildo Zegna (NYSE:ZGN) Sees Large Volume Increase - What's Next?

Shares of Ermenegildo Zegna (NYSE:ZGN - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 2,582,412 shares traded hands during trading, an increase of 200% from the previous session's volume of 861,548 shares.The stock last traded at $8.22 and had previously closed at $7.94.

Analyst Ratings Changes

A number of equities analysts have weighed in on ZGN shares. TD Cowen began coverage on shares of Ermenegildo Zegna in a research note on Tuesday, February 18th. They issued a "hold" rating and a $10.00 target price for the company. Bank of America upgraded shares of Ermenegildo Zegna from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $9.40 to $8.90 in a research report on Thursday, January 16th.

Ermenegildo Zegna Trading Up 0.2 %

The company has a market capitalization of $3.37 billion, a price-to-earnings 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 simple moving average is $7.36 and its 200-day simple moving average is $7.97.

Hedge Funds Weigh In On Ermenegildo Zegna

Large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new stake in shares of Ermenegildo Zegna during the 4th quarter valued at $28,000. Handelsbanken Fonder AB lifted its stake in Ermenegildo Zegna by 26.0% in the first quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company's stock valued at $280,000 after buying an additional 7,800 shares during the period. Entropy Technologies LP acquired a new position in Ermenegildo Zegna in the fourth quarter valued at about $84,000. Mirabella Financial Services LLP acquired a new position in shares of Ermenegildo Zegna during the 4th quarter worth about $87,000. Finally, Vident Advisory LLC acquired a new position in shares of Ermenegildo Zegna during the 4th quarter worth about $126,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

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.