Ermenegildo Zegna (NYSE:ZGN) Shares Gap Down to $13.94

Shares of Ermenegildo Zegna (NYSE:ZGN) gapped down prior to trading on Friday . The stock had previously closed at $13.94, but opened at $13.44. Ermenegildo Zegna shares last traded at $11.85, with a volume of 931,375 shares traded.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised shares of 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 Trading Down 14.2 %

The business’s fifty day moving average price is $13.81 and its two-hundred day moving average price is $12.51.

Hedge Funds Weigh In On Ermenegildo Zegna

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its holdings in Ermenegildo Zegna by 111.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,135 shares of the company’s stock valued at $40,000 after acquiring an additional 1,650 shares during the last quarter. UBS Group AG purchased a new stake in Ermenegildo Zegna in the 4th quarter valued at about $44,000. Legal & General Group Plc raised its stake in shares of Ermenegildo Zegna by 26.0% in the 4th quarter. Legal & General Group Plc now owns 5,980 shares of the company’s stock valued at $63,000 after acquiring an additional 1,235 shares during the period. Point72 Asset Management L.P. purchased a new stake in Ermenegildo Zegna in the second quarter valued at approximately $71,000. Finally, Amalgamated Bank raised its holdings in shares of Ermenegildo Zegna by 25.4% in the 4th quarter. Amalgamated Bank now owns 7,964 shares of the company’s stock valued at $83,000 after buying an additional 1,612 shares during the period. Institutional investors and hedge funds 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.