Spectrum Strategic Capital Management LLC Buys 100,452 Shares of Ermenegildo Zegna N.V. $ZGN

Key Points

• Spectrum Strategic Capital Management boosted its stake in Ermenegildo Zegna by 903.3% in the fourth quarter, ending with 111,572 shares valued at about $1.14 million.
• The company’s latest quarterly results missed expectations, with EPS of $0.15 versus a $0.26 estimate and revenue of $577.83 million versus the $1.17 billion forecast.
• Analysts are mixed but slightly positive on ZGN, with an average rating of Moderate Buy and a consensus price target of $12.26; the stock recently traded near $12.58.

Spectrum Strategic Capital Management LLC raised its stake in shares of Ermenegildo Zegna N.V. (NYSE:ZGN - Free Report) by 903.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 111,572 shares of the company's stock after acquiring an additional 100,452 shares during the period. Spectrum Strategic Capital Management LLC's holdings in Ermenegildo Zegna were worth $1,144,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ZGN. Millennium Management LLC lifted 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 acquiring an additional 742,680 shares during the period. Goldman Sachs Group Inc. lifted its stake in Ermenegildo Zegna by 22.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company's stock valued at $995,000 after acquiring an additional 24,862 shares during the period. Jane Street Group LLC bought a new position in Ermenegildo Zegna during the 1st quarter valued at about $1,161,000. Geode Capital Management LLC bought a new position in Ermenegildo Zegna during the 2nd quarter valued at about $6,245,000. Finally, JPMorgan Chase & Co. lifted its stake in Ermenegildo Zegna by 59,691.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 29,298 shares of the company's stock valued at $250,000 after acquiring an additional 29,249 shares during the period. Institutional investors own 12.91% of the company's stock.

Ermenegildo Zegna Trading Down 0.0%

Shares of NYSE:ZGN opened at $12.58 on Monday. The firm's 50 day moving average price is $11.17 and its 200-day moving average price is $10.66. Ermenegildo Zegna N.V. has a twelve month low of $7.61 and a twelve month high of $13.38. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) last issued its quarterly earnings data on Friday, March 20th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.11). The firm had revenue of $577.83 million for the quarter, compared to analysts' expectations of $1.17 billion. Research analysts predict that Ermenegildo Zegna N.V. will post 0.46 EPS for the current year.

Ermenegildo Zegna Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Monday, July 6th will be given a $0.12 dividend. This represents a dividend yield of 99.0%. The ex-dividend date is Monday, July 6th.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ZGN shares. Morgan Stanley started coverage on shares of Ermenegildo Zegna in a research note on Thursday, February 12th. They issued an "equal weight" rating and a $11.00 price objective on the stock. Wall Street Zen upgraded shares of Ermenegildo Zegna from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. TD Cowen increased their price objective on shares of Ermenegildo Zegna from $11.00 to $13.00 and gave the stock a "hold" rating in a research note on Friday, May 1st. UBS Group reiterated a "buy" rating and issued a $14.50 price objective on shares of Ermenegildo Zegna in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Ermenegildo Zegna in a research note on Monday, April 20th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $12.26.

Insider Transactions at Ermenegildo Zegna

In other news, Director Alessandro Sartori sold 6,505 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $13.12, for a total value of $85,345.60. Following the completion of the sale, the director directly owned 142,237 shares of the company's stock, valued at $1,866,149.44. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 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 sale, the chief financial officer directly owned 44,448 shares of the company's stock, valued at approximately $583,157.76. This trade represents a 11.49% decrease in their ownership of the stock. 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. Insiders sold a total of 31,378 shares of company stock valued at $411,679 over the last three months. Corporate insiders own 1.20% of the company's stock.

Ermenegildo Zegna Company 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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