Squarepoint Ops LLC Has $1.12 Million Position in Ermenegildo Zegna N.V. $ZGN

Key Points

• Squarepoint Ops LLC cut its Ermenegildo Zegna stake by 68% in the second quarter, selling 183,676 shares and retaining 86,332 shares valued at approximately $1.12 million.
• Several institutional investors increased their positions, including Walleye Capital, Bank of America, Osborne Partners, and Fideuram Intesa Sanpaolo; institutions and hedge funds collectively own 12.91% of Zegna shares.
• ZGN shares opened at $12.40, while analyst sentiment remained mixed: five analysts rated the stock Buy, four Hold, and one Sell, producing an average rating of Hold and an average price target of $13.42.

Squarepoint Ops LLC lessened its holdings in shares of Ermenegildo Zegna N.V. (NYSE:ZGN - Free Report) by 68.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,332 shares of the company's stock after selling 183,676 shares during the period. Squarepoint Ops LLC's holdings in Ermenegildo Zegna were worth $1,124,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Amundi acquired a new stake in Ermenegildo Zegna during the 1st quarter worth approximately $10,686,000. Osborne Partners Capital Management LLC increased its holdings in Ermenegildo Zegna by 34.8% during the 1st quarter. Osborne Partners Capital Management LLC now owns 942,458 shares of the company's stock worth $9,820,000 after purchasing an additional 243,137 shares in the last quarter. Walleye Capital LLC raised its position in Ermenegildo Zegna by 1,938.7% in the 1st quarter. Walleye Capital LLC now owns 665,851 shares of the company's stock valued at $6,938,000 after buying an additional 633,191 shares during the last quarter. Bank of America Corp DE raised its position in Ermenegildo Zegna by 483.2% in the 1st quarter. Bank of America Corp DE now owns 583,360 shares of the company's stock valued at $6,079,000 after buying an additional 483,332 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its stake in Ermenegildo Zegna by 82.3% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 354,608 shares of the company's stock valued at $3,695,000 after acquiring an additional 160,078 shares in the last quarter. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Ermenegildo Zegna Stock Up 5.1%

Shares of ZGN stock opened at $12.40 on Friday. Ermenegildo Zegna N.V. has a 52-week low of $8.64 and a 52-week high of $15.95. The firm's 50-day moving average is $13.60 and its 200-day moving average is $12.75. The company has a quick ratio of 0.80, a current ratio of 1.47 and a debt-to-equity ratio of 0.12.

Analyst Ratings Changes

A number of brokerages have recently commented on ZGN. Wall Street Zen lowered shares of Ermenegildo Zegna from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. The Goldman Sachs Group lowered Ermenegildo Zegna from a "buy" rating to a "neutral" rating and upped their target price for the stock from $13.30 to $14.00 in a report on Wednesday, June 17th. JPMorgan Chase & Co. increased their price target on 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 decreased their price target on Ermenegildo Zegna from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Friday, September 4th. Finally, UBS Group boosted their price target on Ermenegildo Zegna from $15.40 to $15.50 and gave the stock a "buy" rating in a research report on Friday, September 4th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $13.42.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna Group is an Italian luxury goods company founded in 1910 by Ermenegildo Zegna in Trivero, Italy. The group began as a wool mill and developed into a vertically integrated luxury fashion business, combining textile manufacturing with the design, production and distribution of branded apparel and accessories.

The company operates the ZEGNA brand, which offers menswear, made-to-measure clothing, footwear, leather goods, accessories and fabrics. Its portfolio also includes Thom Browne, a luxury fashion brand known for tailored clothing and accessories, and TOM FORD FASHION, covering apparel, accessories and related fashion products.

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