Sei Investments Co. Cuts Stock Position in Ermenegildo Zegna (NYSE:ZGN)

Sei Investments Co. decreased its holdings in Ermenegildo Zegna (NYSE:ZGN) by 24.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,828 shares of the company’s stock after selling 12,828 shares during the quarter. Sei Investments Co.’s holdings in Ermenegildo Zegna were worth $321,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new stake in Ermenegildo Zegna during the 4th quarter worth approximately $28,000. Entropy Technologies LP acquired a new stake in shares of Ermenegildo Zegna in the fourth quarter valued at $84,000. Verition Fund Management LLC acquired a new stake in shares of Ermenegildo Zegna in the third quarter valued at $149,000. Next Capital Management LLC purchased a new position in Ermenegildo Zegna in the fourth quarter valued at $151,000. Finally, XTX Topco Ltd acquired a new position in Ermenegildo Zegna during the 3rd quarter worth $215,000. Institutional investors and hedge funds own 12.91% of the company’s stock.

Analyst Upgrades and Downgrades

ZGN has been the subject of several recent research reports. Bank of America upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $9.40 to $8.90 in a research note on Thursday, January 16th. TD Cowen started 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.

Ermenegildo Zegna Trading Down 5.5 %

NYSE:ZGN opened at $6.66 on Friday. Ermenegildo Zegna has a 1 year low of $6.05 and a 1 year high of $13.36. The stock has a market cap of $2.71 billion, a P/E ratio of 12.56 and a beta of 0.73. 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 50-day simple moving average of $7.87 and a 200-day simple moving average of $8.14.

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.