Lombard Odier Asset Management USA Corp Takes Position in Ermenegildo Zegna N.V. $ZGN

Key Points

• Lombard Odier Asset Management USA Corp bought a new position in Ermenegildo Zegna during the first quarter, acquiring 115,000 shares valued at about $1.2 million.
• Other institutional investors also increased or initiated stakes, and institutions now own 12.91% of the company’s stock.
• Analyst sentiment is mixed but generally positive: the stock has an average rating of “Moderate Buy” with an average target price of $13.23, while insiders recently sold shares tied to equity award tax withholding.

Lombard Odier Asset Management USA Corp purchased a new position in Ermenegildo Zegna N.V. (NYSE:ZGN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 115,000 shares of the company's stock, valued at approximately $1,198,000.

Several other large investors also recently modified their holdings of the company. California State Teachers Retirement System purchased a new stake in Ermenegildo Zegna during the second quarter valued at $33,000. Caitong International Asset Management Co. Ltd boosted its position in Ermenegildo Zegna by 11,382.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company's stock worth $40,000 after purchasing an additional 3,870 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Ermenegildo Zegna in the second quarter worth about $54,000. Legal & General Group Plc bought a new stake in shares of Ermenegildo Zegna during the 2nd quarter valued at about $59,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Ermenegildo Zegna by 73.7% during the 2nd 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 during the period. Institutional investors own 12.91% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ZGN shares. Wall Street Zen cut shares of Ermenegildo Zegna from a "buy" rating to a "hold" rating in a research note on Monday, July 20th. JPMorgan Chase & Co. boosted their target price on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday, June 30th. TD Cowen upped their target price on shares of Ermenegildo Zegna from $15.00 to $17.00 and gave the company a "buy" rating in a report on Friday. Weiss Ratings reiterated a "hold (c)" rating on shares of Ermenegildo Zegna in a research report on Friday, July 17th. Finally, UBS Group reiterated a "buy" rating and issued a $14.50 price target on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $13.23.

Insider Activity at Ermenegildo Zegna

In related news, CFO Gian Franco Santhia sold 5,768 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $13.12, for a total value of $75,676.16. Following the completion of the sale, 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Alessandro Sartori sold 6,505 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $13.12, for a total transaction of $85,345.60. Following the sale, the director owned 142,237 shares in the company, valued at approximately $1,866,149.44. The trade was a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 31,378 shares of company stock worth $411,679. 1.20% of the stock is owned by company insiders.

Ermenegildo Zegna Trading Up 3.7%

NYSE:ZGN opened at $14.32 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91. The stock has a 50-day simple moving average of $13.82 and a two-hundred day simple moving average of $11.88. Ermenegildo Zegna N.V. has a 52-week low of $7.61 and a 52-week high of $15.44.

Ermenegildo Zegna Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, July 29th. Investors of record on Monday, July 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, July 6th. This represents a dividend yield of 102.0%.

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.

Want to see what other hedge funds are holding ZGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ermenegildo Zegna N.V. (NYSE:ZGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.