Ermenegildo Zegna (NYSE:ZGN) Trading Down 2.9% - Time to Sell?

Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report)'s stock price fell 2.9% during trading on Thursday . The stock traded as low as $8.44 and last traded at $8.56. 152,224 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 769,509 shares. The stock had previously closed at $8.81.

Ermenegildo Zegna Stock Down 0.9%

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's 50 day simple moving average is $8.41 and its 200 day simple moving average is $8.17.

Ermenegildo Zegna Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Ermenegildo Zegna by 22.7% in the first quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company's stock valued at $995,000 after buying an additional 24,862 shares during the period. Jane Street Group LLC acquired a new position in shares of Ermenegildo Zegna in the first quarter valued at approximately $1,161,000. PharVision Advisers LLC acquired a new position in shares of Ermenegildo Zegna in the first quarter valued at approximately $135,000. Millennium Management LLC boosted its holdings in shares of Ermenegildo Zegna by 182.8% in the first quarter. Millennium Management LLC now owns 1,149,055 shares of the company's stock valued at $8,503,000 after buying an additional 742,680 shares during the period. Finally, PDT Partners LLC boosted its holdings in shares of Ermenegildo Zegna by 855.1% in the first quarter. PDT Partners LLC now owns 152,318 shares of the company's stock valued at $1,127,000 after buying an additional 136,370 shares during the period. Institutional investors and hedge funds own 12.91% of the company's stock.

About Ermenegildo Zegna

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.