Key Points
- Director Michele Norsa sold 8,000 Ermenegildo Zegna shares at an average price of $13.29, generating $106,320 and reducing his ownership by 4.81% to 158,348 shares.
- ZGN shares opened at $13.40, versus a 52-week range of $8.65 to $15.95. The stock’s analyst consensus is “Moderate Buy”, with an average target price of $14.08.
- Institutional investors own 12.91% of the company, while several funds recently increased their positions. Ermenegildo Zegna operates the Zegna, Thom Browne and TOM FORD FASHION luxury brands.
Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report) Director Michele Norsa sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $13.29, for a total transaction of $106,320.00. Following the transaction, the director owned 158,348 shares of the company's stock, valued at approximately $2,104,444.92. This represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Ermenegildo Zegna Trading Up 0.9%
Shares of Ermenegildo Zegna stock opened at $13.40 on Friday. Ermenegildo Zegna N.V. has a fifty-two week low of $8.65 and a fifty-two week high of $15.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 1.47. The company's 50 day moving average price is $12.78 and its two-hundred day moving average price is $12.37.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on ZGN shares. The Goldman Sachs Group reissued a "neutral" rating on shares of Ermenegildo Zegna in a report on Sunday, October 4th. Morgan Stanley set a $13.00 price objective on Ermenegildo Zegna in a research report on Monday, September 7th. BNP Paribas Exane cut Ermenegildo Zegna from a "neutral" rating to an "underperform" rating and set a $12.20 target price for the company. in a report on Tuesday, August 11th. Weiss Ratings downgraded Ermenegildo Zegna from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 3rd. Finally, Wall Street Zen lowered Ermenegildo Zegna from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $14.08.
Check Out Our Latest Report on Ermenegildo Zegna
Hedge Funds Weigh In On Ermenegildo Zegna
Several large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Ermenegildo Zegna by 48.3% during the first quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company's stock worth $29,000 after purchasing an additional 908 shares during the period. GAMMA Investing LLC increased its holdings in Ermenegildo Zegna by 216.9% in the third quarter. GAMMA Investing LLC now owns 3,740 shares of the company's stock valued at $47,000 after purchasing an additional 2,560 shares during the period. Handelsbanken Fonder AB raised its position in Ermenegildo Zegna by 21.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company's stock worth $492,000 after purchasing an additional 6,800 shares during the last quarter. Central Pacific Bank Trust Division raised its position in Ermenegildo Zegna by 28.1% during the 2nd quarter. Central Pacific Bank Trust Division now owns 43,302 shares of the company's stock worth $564,000 after purchasing an additional 9,492 shares during the last quarter. Finally, State of Wyoming acquired a new position in Ermenegildo Zegna during the 1st quarter worth about $150,000. Institutional investors own 12.91% of the company's stock.
Ermenegildo Zegna Company Profile
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Get Free Report)
Ermenegildo Zegna N.V. is a global luxury-goods group specializing in menswear, accessories and related lifestyle products. Its portfolio includes the Zegna brand, known for tailored clothing, ready-to-wear apparel, footwear, leather goods and fabrics, as well as Thom Browne, a luxury fashion brand offering menswear, womenswear, accessories and footwear.
The company also operates the TOM FORD FASHION business, which includes luxury apparel, accessories and footwear under the TOM FORD brand.
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