Ermenegildo Zegna (NYSE:ZGN) Stock Price Down 2.5% - Here's Why

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report) traded down 2.5% during trading on Friday . The stock traded as low as $8.87 and last traded at $8.89. 861,902 shares traded hands during mid-day trading, a decline of 1% from the average session volume of 868,971 shares. The stock had previously closed at $9.12.

Ermenegildo Zegna Price Performance

The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $3.62 billion, a P/E ratio of 16.77 and a beta of 0.73. The company's 50-day simple moving average is $8.66 and its 200 day simple moving average is $8.20.

Ermenegildo Zegna Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Monday, July 7th will be given a $0.1361 dividend. This represents a yield of 1.5%. This is an increase from Ermenegildo Zegna's previous annual dividend of $0.12. The ex-dividend date is Monday, July 7th.

Institutional Trading of Ermenegildo Zegna

Several large investors have recently modified their holdings of ZGN. Public Investment Fund boosted 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 period. Ceredex Value Advisors LLC bought a new stake in shares of Ermenegildo Zegna during the 1st quarter worth $7,057,000. Alpine Investment Management Ltd acquired a new position in Ermenegildo Zegna during the 4th quarter valued at $7,100,000. Tabor Asset Management LP raised its stake 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 purchasing an additional 751,930 shares during the last quarter. Finally, Millennium Management LLC raised its stake 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 purchasing an additional 742,680 shares during the last quarter. 12.91% of the stock is owned by institutional investors.

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.