Ermenegildo Zegna (NYSE:ZGN) Director Sells 8,000 Shares of Company Stock

Key Points

• Director Michele Norsa sold 8,000 Ermenegildo Zegna shares at an average price of $13.29, generating $106,320. Following the sale, he owned 158,348 shares, a 4.81% reduction in his position.
• ZGN traded at $13.46, within its 52-week range of $8.65 to $15.95, while institutional investors owned 12.91% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $14.08, despite some recent downgrades to “Hold.”

Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report) Director Michele Norsa sold 8,000 shares of Ermenegildo Zegna stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $13.29, for a total transaction of $106,320.00. Following the transaction, the director owned 158,348 shares in the company, valued at approximately $2,104,444.92. This trade represents a 4.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Ermenegildo Zegna Price Performance

NYSE ZGN traded up $0.18 on Thursday, reaching $13.46. The company had a trading volume of 216,698 shares, compared to its average volume of 985,295. Ermenegildo Zegna N.V. has a fifty-two week low of $8.65 and a fifty-two week high of $15.95. The business has a 50 day moving average of $12.79 and a two-hundred day moving average of $12.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 1.47.

Institutional Investors Weigh In On Ermenegildo Zegna

Large investors have recently made changes to their positions in the stock. Amundi purchased a new position in shares of Ermenegildo Zegna in the first quarter worth about $10,686,000. Osborne Partners Capital Management LLC boosted its stake in Ermenegildo Zegna by 34.8% during the first quarter. Osborne Partners Capital Management LLC now owns 942,458 shares of the company's stock worth $9,820,000 after buying an additional 243,137 shares during the last quarter. Walleye Capital LLC grew its holdings 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 in the last quarter. Bank of America Corp DE increased its stake in shares of Ermenegildo Zegna by 483.2% in the 1st quarter. Bank of America Corp DE now owns 583,360 shares of the company's stock worth $6,079,000 after acquiring an additional 483,332 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its holdings in shares of Ermenegildo Zegna by 82.3% during the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 354,608 shares of the company's stock worth $3,695,000 after acquiring an additional 160,078 shares during the period. 12.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ZGN. Weiss Ratings downgraded shares of Ermenegildo Zegna from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, September 3rd. Wall Street Zen downgraded Ermenegildo Zegna from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. The Goldman Sachs Group reissued a "neutral" rating on shares of Ermenegildo Zegna in a research report on Sunday, October 4th. UBS Group dropped their price objective on Ermenegildo Zegna from $15.50 to $15.40 and set a "buy" rating on the stock in a research note on Monday, October 5th. Finally, TD Cowen upped their target price on Ermenegildo Zegna from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ermenegildo Zegna presently has a consensus rating of "Moderate Buy" and an average target price of $14.08.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna N.V. is a global luxury-goods group specializing in menswear, accessories and related lifestyle products. Its portfolio includes the Zegna brand, known for tailored clothing, ready-to-wear apparel, footwear, leather goods and fabrics, as well as Thom Browne, a luxury fashion brand offering menswear, womenswear, accessories and footwear.

The company also operates the TOM FORD FASHION business, which includes luxury apparel, accessories and footwear under the TOM FORD brand.

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