Ermenegildo Zegna (NYSE:ZGN - Get Free Report) saw unusually-high trading volume on Monday . Approximately 2,582,412 shares changed hands during mid-day 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 Upgrades and Downgrades
A number of research firms have commented on ZGN. TD Cowen started coverage on Ermenegildo Zegna in a report on Tuesday, February 18th. They issued a "hold" rating and a $10.00 target price for the company. Bank of America raised Ermenegildo Zegna from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $9.40 to $8.90 in a research report on Thursday, January 16th.
Get Our Latest Stock Analysis on Ermenegildo Zegna
Ermenegildo Zegna Stock Performance
The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.36 billion, a PE ratio of 15.55 and a beta of 0.72. The business has a 50 day simple moving average of $7.36 and a 200 day simple moving average of $7.97.
Hedge Funds Weigh In On Ermenegildo Zegna
Several institutional investors and hedge funds have recently modified their holdings of the business. Public Investment Fund increased its holdings in shares of Ermenegildo Zegna by 57.3% during the 4th quarter. Public Investment Fund now owns 5,834,324 shares of the company's stock worth $48,192,000 after buying an additional 2,124,128 shares during the last quarter. Alpine Investment Management Ltd acquired a new position in shares of Ermenegildo Zegna during the fourth quarter worth about $7,100,000. Tabor Asset Management LP grew its position in Ermenegildo Zegna by 362.0% during the fourth quarter. Tabor Asset Management LP now owns 959,643 shares of the company's stock worth $7,927,000 after buying an additional 751,930 shares during the period. Osborne Partners Capital Management LLC purchased a new position in shares of Ermenegildo Zegna during the 1st quarter worth approximately $4,984,000. Finally, Invesco Ltd. boosted its holdings 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 worth $52,750,000 after purchasing an additional 581,696 shares during the last quarter. Hedge funds and other institutional investors own 12.91% of the company's stock.
About Ermenegildo Zegna
(
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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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