Ermenegildo Zegna (NYSE:ZGN) Short Interest Update

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 4,160,000 shares, an increase of 71.2% from the April 30th total of 2,430,000 shares. Based on an average daily volume of 974,900 shares, the short-interest ratio is presently 4.3 days. Currently, 7.5% of the company's shares are short sold.

Analyst Ratings Changes

Separately, TD Cowen started 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 Trading Down 1.0%

Shares of ZGN traded down $0.08 during midday trading on Monday, hitting $8.52. 776,403 shares of the stock were exchanged, compared to its average volume of 716,741. Ermenegildo Zegna has a 52-week low of $6.05 and a 52-week high of $12.77. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41. The stock has a fifty day simple moving average of $7.69 and a 200 day simple moving average of $8.07. The firm has a market cap of $3.47 billion, a P/E ratio of 16.07 and a beta of 0.72.

Ermenegildo Zegna Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, July 29th. Investors of record on Monday, July 7th will be paid a dividend of $0.1361 per share. This is a positive change from Ermenegildo Zegna's previous annual dividend of $0.12. The ex-dividend date is Monday, July 7th. This represents a yield of 1.5%. Ermenegildo Zegna's dividend payout ratio is presently 22.64%.

Hedge Funds Weigh In On Ermenegildo Zegna

Several institutional investors have recently bought and sold shares of the company. Invesco Ltd. boosted its stake in shares of Ermenegildo Zegna by 10.0% in the fourth quarter. Invesco Ltd. now owns 6,386,184 shares of the company's stock valued at $52,750,000 after purchasing an additional 581,696 shares during the period. Public Investment Fund lifted its holdings in Ermenegildo Zegna by 57.3% during the 4th quarter. Public Investment Fund now owns 5,834,324 shares of the company's stock worth $48,192,000 after buying an additional 2,124,128 shares in the last quarter. FIL Ltd boosted its position in Ermenegildo Zegna by 18.0% in the 4th quarter. FIL Ltd now owns 1,672,992 shares of the company's stock valued at $13,819,000 after buying an additional 255,079 shares during the period. Millennium Management LLC grew its stake in shares of Ermenegildo Zegna by 182.8% in the first quarter. Millennium Management LLC now owns 1,149,055 shares of the company's stock worth $8,503,000 after acquiring an additional 742,680 shares in the last quarter. Finally, Tabor Asset Management LP grew its stake in shares of Ermenegildo Zegna by 362.0% in the fourth quarter. Tabor Asset Management LP now owns 959,643 shares of the company's stock worth $7,927,000 after acquiring an additional 751,930 shares in the last quarter. 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.