Ceredex Value Advisors LLC Sells 87,700 Shares of Ermenegildo Zegna N.V. $ZGN

Ceredex Value Advisors LLC lessened its position in shares of Ermenegildo Zegna N.V. (NYSE:ZGN) by 9.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 866,000 shares of the company’s stock after selling 87,700 shares during the quarter. Ceredex Value Advisors LLC owned approximately 0.21% of Ermenegildo Zegna worth $7,404,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZGN. Quarry LP bought a new stake in shares of Ermenegildo Zegna in the 1st quarter valued at $43,000. Ameritas Investment Partners Inc. bought a new stake in Ermenegildo Zegna during the second quarter valued at $54,000. Legal & General Group Plc acquired a new stake in Ermenegildo Zegna during the 2nd quarter worth about $59,000. Quantbot Technologies LP bought a new position in shares of Ermenegildo Zegna in the 1st quarter worth about $80,000. Finally, ProShare Advisors LLC bought a new position in shares of Ermenegildo Zegna in the 2nd quarter worth about $108,000. Institutional investors and hedge funds own 12.91% of the company’s stock.

Wall Street Analyst Weigh In

ZGN has been the subject of several recent analyst reports. Jefferies Financial Group began coverage on Ermenegildo Zegna in a research note on Tuesday, October 14th. They set a “buy” rating and a $12.90 target price for the company. UBS Group raised their price objective on shares of Ermenegildo Zegna from $9.50 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Bank of America boosted their target price on shares of Ermenegildo Zegna from $9.50 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. assumed coverage on shares of Ermenegildo Zegna in a report on Monday, September 15th. They issued an “overweight” rating and a $11.00 price target for the company. Finally, Sanford C. Bernstein began coverage on shares of Ermenegildo Zegna in a research note on Tuesday. They issued an “outperform” rating and a $13.00 price target for the company. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.20.

Ermenegildo Zegna Stock Down 0.4%

Shares of ZGN opened at $10.67 on Friday. The business’s fifty day moving average is $9.97 and its 200 day moving average is $9.10. Ermenegildo Zegna N.V. has a 12-month low of $6.05 and a 12-month high of $10.80. The company has a current ratio of 1.42, a quick ratio of 0.79 and a debt-to-equity ratio of 0.18.

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.