Ermenegildo Zegna (NYSE:ZGN) Short Interest Update

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) saw a large increase in short interest in 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. Approximately 7.5% of the company's stock are sold short. Based on an average daily trading volume, of 974,900 shares, the days-to-cover ratio is currently 4.3 days.

Wall Street Analysts Forecast Growth

Separately, TD Cowen began coverage on shares of Ermenegildo Zegna in a research note on Tuesday, February 18th. They issued a "hold" rating and a $10.00 price target for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Ermenegildo Zegna in the 4th quarter valued at $28,000. Quarry LP acquired a new stake in Ermenegildo Zegna in the first quarter valued at $43,000. Quantbot Technologies LP purchased a new stake in Ermenegildo Zegna during the 1st quarter worth about $80,000. Entropy Technologies LP acquired a new position in shares of Ermenegildo Zegna during the 4th quarter worth about $84,000. Finally, Mirabella Financial Services LLP acquired a new position in shares of Ermenegildo Zegna during the 4th quarter worth about $87,000. Institutional investors and hedge funds own 12.91% of the company's stock.

Ermenegildo Zegna Stock Up 1.1%

Shares of ZGN traded up $0.09 during midday trading on Wednesday, hitting $8.59. The company had a trading volume of 512,884 shares, compared to its average volume of 718,274. Ermenegildo Zegna has a 1 year low of $6.05 and a 1 year high of $12.77. The firm has a market capitalization of $3.50 billion, a P/E ratio of 16.21 and a beta of 0.72. 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 company's 50-day simple moving average is $7.75 and its 200-day simple moving average is $8.09.

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 issued a $0.1361 dividend. This is a boost from Ermenegildo Zegna's previous annual dividend of $0.12. The ex-dividend date of this dividend is Monday, July 7th. This represents a yield of 1.5%. Ermenegildo Zegna's dividend payout ratio (DPR) is 22.64%.

Ermenegildo Zegna Company 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.