Ermenegildo Zegna (NYSE:ZGN) Short Interest Update

Ermenegildo Zegna (NYSE:ZGN) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 1,850,000 shares, an increase of 23.3% from the March 15th total of 1,500,000 shares. Currently, 3.3% of the shares of the stock are short sold. Based on an average trading volume of 840,000 shares, the days-to-cover ratio is currently 2.2 days.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ZGN shares. Bank of America raised shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and decreased their price target for the company from $9.40 to $8.90 in a report on Thursday, January 16th. TD Cowen started coverage on Ermenegildo Zegna in a research note on Tuesday, February 18th. They issued a “hold” rating and a $10.00 price target for the company.

Ermenegildo Zegna Trading Up 1.0 %

ZGN traded up $0.07 during trading on Monday, reaching $6.99. 511,254 shares of the company’s stock were exchanged, compared to its average volume of 656,580. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. Ermenegildo Zegna has a one year low of $6.05 and a one year high of $13.36. The firm has a fifty day moving average price of $7.63 and a two-hundred day moving average price of $8.04. The stock has a market capitalization of $2.85 billion, a PE ratio of 13.19 and a beta of 0.73.

Institutional Trading of Ermenegildo Zegna

Institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter valued at about $222,000. SBI Securities Co. Ltd. acquired a new position in shares of Ermenegildo Zegna in the fourth quarter worth approximately $28,000. American Assets Inc. acquired a new stake in Ermenegildo Zegna during the 4th quarter valued at approximately $578,000. FIL Ltd raised its holdings in Ermenegildo Zegna by 18.0% during the 4th quarter. FIL Ltd now owns 1,672,992 shares of the company’s stock worth $13,819,000 after purchasing an additional 255,079 shares during the last quarter. Finally, Next Capital Management LLC bought a new stake in shares of Ermenegildo Zegna in the 4th quarter valued at $151,000. Institutional investors 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.