Public Investment Fund Raises Holdings in Ermenegildo Zegna (NYSE:ZGN)

Public Investment Fund raised its stake in shares of Ermenegildo Zegna (NYSE:ZGN) by 57.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,834,324 shares of the company’s stock after acquiring an additional 2,124,128 shares during the period. Public Investment Fund owned approximately 1.44% of Ermenegildo Zegna worth $48,192,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ZGN. SBI Securities Co. Ltd. acquired a new stake in Ermenegildo Zegna during the fourth quarter worth approximately $28,000. Entropy Technologies LP acquired a new stake in Ermenegildo Zegna in the fourth quarter valued at approximately $84,000. Mirabella Financial Services LLP purchased a new stake in Ermenegildo Zegna during the 4th quarter worth $87,000. Next Capital Management LLC purchased a new position in Ermenegildo Zegna in the fourth quarter valued at about $151,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Ermenegildo Zegna during the 4th quarter valued at approximately $151,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Bank of America upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $9.40 to $8.90 in a research report on Thursday, January 16th. TD Cowen assumed coverage on Ermenegildo Zegna in a report on Tuesday, February 18th. They set a “hold” rating and a $10.00 price target on the stock.

Ermenegildo Zegna Stock Performance

Ermenegildo Zegna stock opened at $7.70 on Friday. Ermenegildo Zegna has a fifty-two week low of $6.05 and a fifty-two week high of $13.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79. The company has a market cap of $3.14 billion, a P/E ratio of 14.52 and a beta of 0.73. The firm’s 50 day simple moving average is $7.50 and its 200-day simple moving average is $8.01.

Ermenegildo Zegna Company 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.