Ermenegildo Zegna (NYSE:ZGN) Trading 9.1% Higher

Ermenegildo Zegna (NYSE:ZGN)’s share price traded up 9.1% during mid-day trading on Thursday . The stock traded as high as $9.31 and last traded at $9.31. 343,968 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 518,199 shares. The stock had previously closed at $8.53.

Analyst Ratings Changes

Separately, Bank of America cut shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $9.80 in a report on Monday.

Ermenegildo Zegna Stock Performance

The firm’s fifty day moving average price is $10.19 and its 200-day moving average price is $11.72. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 2.15 and a beta of 0.62.

Institutional Trading of Ermenegildo Zegna

Several institutional investors and hedge funds have recently bought and sold shares of the business. Armistice Capital LLC raised its position in Ermenegildo Zegna by 547.4% in the 2nd quarter. Armistice Capital LLC now owns 239,235 shares of the company’s stock valued at $2,833,000 after purchasing an additional 202,281 shares during the last quarter. nVerses Capital LLC raised its position in Ermenegildo Zegna by 525.0% during the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $30,000 after buying an additional 2,100 shares during the last quarter. Liontrust Investment Partners LLP purchased a new position in Ermenegildo Zegna during the 2nd quarter worth $2,960,000. Quadrature Capital Ltd raised its position in Ermenegildo Zegna by 162.0% during the 1st quarter. Quadrature Capital Ltd now owns 101,067 shares of the company’s stock worth $1,483,000 after buying an additional 62,488 shares during the last quarter. Finally, Capital World Investors raised its position in Ermenegildo Zegna by 34.6% during the 1st quarter. Capital World Investors now owns 5,195,013 shares of the company’s stock worth $76,107,000 after buying an additional 1,335,945 shares during the last quarter. Hedge funds and other institutional investors own 12.91% of the company’s stock.

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.