Ermenegildo Zegna (NYSE:ZGN) Sees Large Volume Increase - Still a Buy?

Shares of Ermenegildo Zegna (NYSE:ZGN - Get Free Report) saw unusually-high trading volume on Friday . Approximately 2,589,382 shares changed hands during trading, an increase of 248% from the previous session's volume of 743,719 shares.The stock last traded at $8.85 and had previously closed at $8.65.

Wall Street Analyst Weigh In

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

Ermenegildo Zegna Stock Up 4.6%

The company has a market cap of $3.69 billion, a price-to-earnings ratio of 17.08 and a beta of 0.74. The stock's 50-day moving average is $8.00 and its 200-day moving average is $8.14. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24.

Ermenegildo Zegna Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Monday, July 7th will be issued a dividend of $0.1361 per share. The ex-dividend date is Monday, July 7th. This represents a dividend yield of 1.5%. This is a positive change from Ermenegildo Zegna's previous annual dividend of $0.12. Ermenegildo Zegna's dividend payout ratio is currently 22.64%.

Institutional Trading of Ermenegildo Zegna

Large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of Ermenegildo Zegna during the fourth quarter valued at approximately $28,000. Quarry LP bought a new stake in Ermenegildo Zegna during the 1st quarter valued at $43,000. Handelsbanken Fonder AB raised its holdings in Ermenegildo Zegna by 26.0% during the first quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company's stock worth $280,000 after buying an additional 7,800 shares during the last quarter. Entropy Technologies LP raised its holdings in Ermenegildo Zegna by 95.2% during the first quarter. Entropy Technologies LP now owns 19,892 shares of the company's stock worth $147,000 after buying an additional 9,700 shares during the last quarter. Finally, Mirabella Financial Services LLP bought a new stake in shares of Ermenegildo Zegna during the fourth quarter worth about $87,000. 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.