Ermenegildo Zegna (NYSE:ZGN – Get Rating) fell 5.5% during mid-day trading on Friday . The company traded as low as $9.96 and last traded at $9.96. 1,995 shares changed hands during trading, a decline of 99% from the average session volume of 139,572 shares. The stock had previously closed at $10.54.
Analyst Upgrades and Downgrades
Separately, Bank of America began coverage on Ermenegildo Zegna in a research note on Tuesday, September 20th. They set a "buy" rating and a $13.00 target price for the company.
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Ermenegildo Zegna Price Performance
The firm's 50 day moving average price is $10.91 and its two-hundred day moving average price is $10.72. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.14 and a current ratio of 1.61.
Hedge Funds Weigh In On Ermenegildo Zegna
Hedge funds have recently made changes to their positions in the business. Strs Ohio bought a new position in shares of Ermenegildo Zegna during the 2nd quarter worth approximately $116,000. Penserra Capital Management LLC grew its stake in shares of Ermenegildo Zegna by 83.0% during the 1st quarter. Penserra Capital Management LLC now owns 12,189 shares of the company's stock worth $128,000 after acquiring an additional 5,530 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Ermenegildo Zegna during the 2nd quarter worth approximately $139,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ermenegildo Zegna during the 2nd quarter worth approximately $143,000. Finally, Alliancebernstein L.P. bought a new position in shares of Ermenegildo Zegna during the 3rd quarter worth approximately $184,000. 45.26% of the stock is owned by institutional investors.
Ermenegildo Zegna Company Profile
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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.
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