Price T Rowe Associates Inc. MD Lowers Holdings in Ermenegildo Zegna (NYSE:ZGN)

Price T Rowe Associates Inc. MD cut its stake in shares of Ermenegildo Zegna (NYSE:ZGN - Free Report) by 67.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,720,619 shares of the company's stock after selling 7,726,034 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.92% of Ermenegildo Zegna worth $30,733,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Mirabella Financial Services LLP purchased a new stake in Ermenegildo Zegna during the 4th quarter valued at about $87,000. Jump Financial LLC purchased a new stake in shares of Ermenegildo Zegna during the fourth quarter valued at approximately $936,000. Portolan Capital Management LLC bought a new stake in shares of Ermenegildo Zegna during the fourth quarter valued at approximately $3,351,000. XTX Topco Ltd increased its position in shares of Ermenegildo Zegna by 107.6% during the fourth quarter. XTX Topco Ltd now owns 45,407 shares of the company's stock valued at $375,000 after acquiring an additional 23,534 shares in the last quarter. Finally, FIL Ltd raised its holdings in Ermenegildo Zegna by 18.0% in the 4th quarter. FIL Ltd now owns 1,672,992 shares of the company's stock worth $13,819,000 after acquiring an additional 255,079 shares during the last quarter. Hedge funds and other institutional investors own 12.91% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ZGN shares. TD Cowen assumed coverage on Ermenegildo Zegna in a research report on Tuesday, February 18th. They issued a "hold" rating and a $10.00 target price for the company. Bank of America upgraded Ermenegildo Zegna from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $9.40 to $8.90 in a research report on Thursday, January 16th.

Ermenegildo Zegna Stock Performance

NYSE ZGN traded down $0.23 on Tuesday, reaching $7.89. 54,205 shares of the stock were exchanged, compared to its average volume of 680,691. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. Ermenegildo Zegna has a one year low of $6.05 and a one year high of $13.36. The firm has a market capitalization of $3.21 billion, a PE ratio of 14.92 and a beta of 0.72. The company's 50-day simple moving average is $7.38 and its two-hundred day simple moving average is $7.97.

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.