Artisan Partners Limited Partnership Sells 806,660 Shares of Ermenegildo Zegna (NYSE:ZGN)

Artisan Partners Limited Partnership decreased its holdings in shares of Ermenegildo Zegna (NYSE:ZGN) by 23.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,703,178 shares of the company’s stock after selling 806,660 shares during the quarter. Artisan Partners Limited Partnership owned 0.67% of Ermenegildo Zegna worth $22,328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Arizona PSPRS Trust acquired a new position in Ermenegildo Zegna during the 3rd quarter worth approximately $979,000. American Assets Inc. acquired a new position in shares of Ermenegildo Zegna during the fourth quarter worth $578,000. Fox Run Management L.L.C. acquired a new position in shares of Ermenegildo Zegna during the fourth quarter worth $372,000. PDT Partners LLC lifted its stake in shares of Ermenegildo Zegna by 144.0% in the 3rd quarter. PDT Partners LLC now owns 55,549 shares of the company’s stock valued at $547,000 after acquiring an additional 32,779 shares during the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new stake in shares of Ermenegildo Zegna during the 4th quarter valued at $218,000. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Stock Down 0.6 %

Shares of NYSE:ZGN opened at $7.72 on Friday. The firm has a market cap of $3.13 billion, a P/E ratio of 14.56 and a beta of 0.69. Ermenegildo Zegna has a 12-month low of $7.07 and a 12-month high of $14.73. The business has a fifty day simple moving average of $8.36 and a 200 day simple moving average of $8.33. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ZGN shares. TD Cowen started coverage on Ermenegildo Zegna in a report on Tuesday, February 18th. They issued a “hold” rating and a $10.00 target price for the company. BNP Paribas raised Ermenegildo Zegna to a “hold” rating in a research note on Monday, December 2nd. Finally, Bank of America upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and cut their target price for the stock from $9.40 to $8.90 in a research report on Thursday, January 16th.

Ermenegildo Zegna Profile

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.