Ermenegildo Zegna (NYSE:ZGN) Stock Price Down 2.9% - Here's Why

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

Ermenegildo Zegna Trading Down 2.3%

The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 16.23 and a beta of 0.74. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 0.80. The business's 50-day simple moving average is $8.34 and its two-hundred day simple moving average is $8.17.

Ermenegildo Zegna Increases Dividend

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

Institutional Trading of Ermenegildo Zegna

Hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Ermenegildo Zegna during the fourth quarter valued at approximately $28,000. Quarry LP purchased a new stake in shares of Ermenegildo Zegna during the first quarter valued at approximately $43,000. Quantbot Technologies LP purchased a new stake in shares of Ermenegildo Zegna during the first quarter valued at approximately $80,000. Mirabella Financial Services LLP purchased a new stake in shares of Ermenegildo Zegna during the fourth quarter valued at approximately $87,000. Finally, Vident Advisory LLC purchased a new stake in shares of Ermenegildo Zegna during the fourth quarter valued at approximately $126,000. Hedge funds and other institutional investors 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.