99,500 Shares in Ermenegildo Zegna (NYSE:ZGN) Purchased by Arizona PSPRS Trust

Arizona PSPRS Trust purchased a new position in Ermenegildo Zegna (NYSE:ZGN) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 99,500 shares of the company’s stock, valued at approximately $979,000.

A number of other institutional investors also recently bought and sold shares of ZGN. nVerses Capital LLC increased its holdings in shares of Ermenegildo Zegna by 525.0% during the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $30,000 after purchasing an additional 2,100 shares in the last quarter. Verition Fund Management LLC acquired a new position in Ermenegildo Zegna in the 3rd quarter worth about $149,000. PDT Partners LLC raised its holdings in Ermenegildo Zegna by 144.0% in the 3rd quarter. PDT Partners LLC now owns 55,549 shares of the company’s stock worth $547,000 after purchasing an additional 32,779 shares during the period. SG Americas Securities LLC purchased a new position in Ermenegildo Zegna during the third quarter worth approximately $330,000. Finally, Armistice Capital LLC grew its holdings in Ermenegildo Zegna by 547.4% in the second quarter. Armistice Capital LLC now owns 239,235 shares of the company’s stock valued at $2,833,000 after purchasing an additional 202,281 shares during the period. 12.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ZGN shares. Morgan Stanley assumed coverage on Ermenegildo Zegna in a research note on Friday, November 22nd. They set an “underweight” rating and a $7.20 target price for the company. Bank of America cut shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $13.00 to $9.80 in a research report on Monday, September 23rd.

Ermenegildo Zegna Price Performance

ZGN stock opened at $8.09 on Monday. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. The business’s 50-day moving average is $8.14 and its 200 day moving average is $10.07. Ermenegildo Zegna has a 12-month low of $7.13 and a 12-month high of $15.26.

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.