Moore Capital Management LP Makes New Investment in Ermenegildo Zegna (NYSE:ZGN)

Moore Capital Management LP purchased a new stake in shares of Ermenegildo Zegna (NYSE:ZGN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 50,000 shares of the company's stock, valued at approximately $413,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Entropy Technologies LP purchased a new stake in Ermenegildo Zegna in the 4th quarter valued at about $84,000. SBI Securities Co. Ltd. purchased a new stake in Ermenegildo Zegna in the 4th quarter valued at about $28,000. American Assets Inc. purchased a new stake in Ermenegildo Zegna in the 4th quarter valued at about $578,000. Tocqueville Asset Management L.P. purchased a new stake in Ermenegildo Zegna in the 4th quarter valued at about $218,000. Finally, Next Capital Management LLC purchased a new stake in Ermenegildo Zegna in the 4th quarter valued at about $151,000. Institutional investors and hedge funds own 12.91% of the company's stock.

Ermenegildo Zegna Trading Down 0.9%

ZGN traded down $0.08 on Friday, hitting $8.64. The company had a trading volume of 715,003 shares, compared to its average volume of 693,311. The firm has a market cap of $3.52 billion, a P/E ratio of 16.30 and a beta of 0.72. Ermenegildo Zegna has a 1 year low of $6.05 and a 1 year high of $13.36. The company's fifty day moving average price is $7.45 and its 200 day moving average price is $7.99. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24.

Analyst Upgrades and Downgrades

Separately, TD Cowen initiated coverage on shares of Ermenegildo Zegna in a report on Tuesday, February 18th. They issued a "hold" rating and a $10.00 price objective on the stock.

Ermenegildo Zegna Profile

Ermenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances.