Ermenegildo Zegna (NYSE:ZGN) Trading Down 0.8%

Shares of Ermenegildo Zegna (NYSE:ZGN) fell 0.8% during mid-day trading on Wednesday . The company traded as low as $12.47 and last traded at $12.71. 514,872 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 690,686 shares. The stock had previously closed at $12.81.

Analyst Ratings Changes

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

Ermenegildo Zegna Stock Performance

The company’s 50-day simple moving average is $13.35 and its two-hundred day simple moving average is $12.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 0.76.

Institutional Investors Weigh In On Ermenegildo Zegna

Several hedge funds and other institutional investors have recently modified their holdings of ZGN. Artisan Partners Limited Partnership grew its holdings in Ermenegildo Zegna by 52.0% during the third quarter. Artisan Partners Limited Partnership now owns 3,935,129 shares of the company’s stock valued at $54,777,000 after purchasing an additional 1,345,500 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in shares of Ermenegildo Zegna during the 4th quarter valued at approximately $4,165,000. Tabor Asset Management LP increased its holdings in Ermenegildo Zegna by 48.2% in the 4th quarter. Tabor Asset Management LP now owns 734,035 shares of the company’s stock worth $8,493,000 after acquiring an additional 238,614 shares in the last quarter. Public Investment Fund raised its stake in Ermenegildo Zegna by 3.1% during the 4th quarter. Public Investment Fund now owns 2,228,738 shares of the company’s stock worth $25,786,000 after acquiring an additional 66,371 shares during the period. Finally, Invesco Ltd. lifted its holdings in Ermenegildo Zegna by 0.8% during the third quarter. Invesco Ltd. now owns 7,818,211 shares of the company’s stock valued at $108,829,000 after purchasing an additional 61,603 shares in the last quarter. 12.91% of the stock is currently owned by hedge funds and other institutional investors.

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.