Ermenegildo Zegna (NYSE:ZGN) Shares Gap Up to $11.96

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $11.96, but opened at $12.79. Ermenegildo Zegna shares last traded at $12.20, with a volume of 965,238 shares trading hands.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised Ermenegildo Zegna from a "neutral" rating to a "buy" rating and raised their price target for the company from $17.00 to $18.70 in a report on Thursday, January 11th.

Ermenegildo Zegna Trading Up 1.8 %

The business has a fifty day moving average of $13.81 and a 200-day moving average of $12.51.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd grew its holdings in Ermenegildo Zegna by 49.7% during the fourth quarter. Quadrature Capital Ltd now owns 38,579 shares of the company's stock worth $446,000 after acquiring an additional 12,805 shares during the period. FIL Ltd grew its holdings in Ermenegildo Zegna by 2.3% during the fourth quarter. FIL Ltd now owns 1,569,945 shares of the company's stock worth $18,164,000 after acquiring an additional 34,994 shares during the period. GSA Capital Partners LLP grew its holdings in Ermenegildo Zegna by 86.1% during the fourth quarter. GSA Capital Partners LLP now owns 82,011 shares of the company's stock worth $949,000 after acquiring an additional 37,942 shares during the period. Northern Right Capital Management L.P. acquired a new position in Ermenegildo Zegna during the fourth quarter worth about $7,311,000. Finally, Nuveen Asset Management LLC grew its holdings in Ermenegildo Zegna by 87.6% during the fourth quarter. Nuveen Asset Management LLC now owns 547,266 shares of the company's stock worth $6,332,000 after acquiring an additional 255,533 shares during the period. 12.91% of the stock is owned by institutional investors and hedge funds.

About Ermenegildo Zegna

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.