Envestnet Asset Management Inc. Sells 55,703 Shares of Ermenegildo Zegna N.V. $ZGN

Envestnet Asset Management Inc. trimmed its holdings in shares of Ermenegildo Zegna N.V. (NYSE:ZGN) by 40.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,623 shares of the company’s stock after selling 55,703 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ermenegildo Zegna were worth $762,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Temasek Holdings Private Ltd bought a new stake in shares of Ermenegildo Zegna during the 2nd quarter worth $108,585,000. Millennium Management LLC raised its position in Ermenegildo Zegna by 182.8% in the first quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock worth $8,503,000 after acquiring an additional 742,680 shares during the period. Geode Capital Management LLC purchased a new position in Ermenegildo Zegna in the second quarter valued at about $6,245,000. Sei Investments Co. grew its position in shares of Ermenegildo Zegna by 931.8% during the 2nd quarter. Sei Investments Co. now owns 400,630 shares of the company’s stock valued at $3,425,000 after acquiring an additional 361,802 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Ermenegildo Zegna during the 1st quarter worth approximately $1,161,000. Hedge funds and other institutional investors own 12.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ZGN. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Wednesday, January 21st. Sanford C. Bernstein assumed coverage on Ermenegildo Zegna in a research report on Tuesday, November 25th. They set an “outperform” rating and a $13.00 price target on the stock. UBS Group upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 price target for the company in a research note on Thursday, February 5th. Morgan Stanley assumed coverage on Ermenegildo Zegna in a research note on Thursday, February 12th. They issued an “equal weight” rating and a $11.00 price objective on the stock. Finally, Bank of America reiterated a “neutral” rating and set a $11.20 target price (down from $11.50) on shares of Ermenegildo Zegna in a research report on Friday, January 16th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.73.

Ermenegildo Zegna Trading Down 0.5%

ZGN stock opened at $10.96 on Thursday. The stock has a 50-day simple moving average of $10.45 and a two-hundred day simple moving average of $9.98. Ermenegildo Zegna N.V. has a twelve month low of $6.05 and a twelve month high of $11.93. The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 0.18.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.