Amundi Makes New Investment in Ermenegildo Zegna N.V. $ZGN

Key Points

• Amundi acquired 1,025,494 shares of Ermenegildo Zegna in the first quarter, worth approximately $10.7 million and representing about 0.24% of the company. Institutional investors collectively own 12.91% of Zegna.
• Analyst sentiment is generally positive, with five Buy ratings and four Holds. Zegna has a “Moderate Buy” consensus rating and an average price target of $13.23, though Goldman Sachs downgraded the stock to Neutral.
• ZGN opened at $15.07, near its 52-week high of $15.44, while CEO and CFO shares sold stock to cover tax obligations related to vested equity awards.

Amundi bought a new stake in shares of Ermenegildo Zegna N.V. (NYSE:ZGN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,025,494 shares of the company's stock, valued at approximately $10,686,000. Amundi owned about 0.24% of Ermenegildo Zegna as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Ermenegildo Zegna by 48.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company's stock valued at $29,000 after acquiring an additional 908 shares during the period. Vident Advisory LLC raised its holdings in shares of Ermenegildo Zegna by 6.5% in the 4th quarter. Vident Advisory LLC now owns 18,001 shares of the company's stock valued at $185,000 after purchasing an additional 1,097 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of Ermenegildo Zegna by 12.9% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 11,583 shares of the company's stock worth $109,000 after purchasing an additional 1,323 shares during the period. Deutsche Bank AG boosted its stake in shares of Ermenegildo Zegna by 3.3% during the fourth quarter. Deutsche Bank AG now owns 57,477 shares of the company's stock valued at $589,000 after purchasing an additional 1,822 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Ermenegildo Zegna by 73.7% during the second quarter. Tower Research Capital LLC TRC now owns 7,146 shares of the company's stock valued at $61,000 after purchasing an additional 3,033 shares in the last quarter. Hedge funds and other institutional investors own 12.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ZGN. TD Cowen boosted their price objective on shares of Ermenegildo Zegna from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Wall Street Zen raised Ermenegildo Zegna from a "hold" rating to a "buy" rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. upped their price objective on Ermenegildo Zegna from $12.50 to $14.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ermenegildo Zegna in a research report on Friday, July 17th. Finally, The Goldman Sachs Group downgraded shares of Ermenegildo Zegna from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $13.30 to $14.00 in a report on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $13.23.

Ermenegildo Zegna Stock Performance

ZGN opened at $15.07 on Wednesday. Ermenegildo Zegna N.V. has a 52-week low of $7.61 and a 52-week high of $15.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 1.59. The firm's 50-day moving average price is $14.07 and its 200-day moving average price is $12.10.

Insiders Place Their Bets

In other Ermenegildo Zegna news, CEO Gianluca Ambrogio Tagliabue sold 19,105 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $13.12, for a total transaction of $250,657.60. Following the sale, the chief executive officer owned 167,720 shares of the company's stock, valued at approximately $2,200,486.40. The trade was a 10.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gian Franco Santhia sold 5,768 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $13.12, for a total transaction of $75,676.16. Following the completion of the transaction, the chief financial officer directly owned 44,448 shares of the company's stock, valued at approximately $583,157.76. This represents a 11.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 31,378 shares of company stock valued at $411,679. Insiders own 1.20% of the company's stock.

Ermenegildo Zegna Profile

Ermenegildo Zegna is a global luxury fashion house specializing in men's tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.

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