Renaissance Group LLC Sells 27,869 Shares of Ermenegildo Zegna N.V. $ZGN

Renaissance Group LLC lowered its position in shares of Ermenegildo Zegna N.V. (NYSE:ZGN) by 12.2% during the second quarter, HoldingsChannel.com reports. The fund owned 200,620 shares of the company’s stock after selling 27,869 shares during the quarter. Renaissance Group LLC’s holdings in Ermenegildo Zegna were worth $1,715,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quarry LP acquired a new position in Ermenegildo Zegna in the first quarter valued at approximately $43,000. Quantbot Technologies LP bought a new stake in shares of Ermenegildo Zegna in the 1st quarter valued at $80,000. ProShare Advisors LLC acquired a new position in shares of Ermenegildo Zegna during the 2nd quarter valued at $108,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Ermenegildo Zegna during the 2nd quarter valued at $115,000. Finally, Savant Capital LLC boosted its stake in Ermenegildo Zegna by 36.0% during the second quarter. Savant Capital LLC now owns 14,957 shares of the company’s stock worth $128,000 after acquiring an additional 3,961 shares in the last quarter. 12.91% of the stock is owned by institutional investors and hedge funds.

Ermenegildo Zegna Stock Performance

Shares of Ermenegildo Zegna stock opened at $9.71 on Thursday. The stock has a fifty day simple moving average of $9.81 and a 200 day simple moving average of $8.99. Ermenegildo Zegna N.V. has a 12-month low of $6.05 and a 12-month high of $10.70. The company has a current ratio of 1.42, a quick ratio of 0.79 and a debt-to-equity ratio of 0.18.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Bank of America lifted their price target on shares of Ermenegildo Zegna from $9.50 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. assumed coverage on Ermenegildo Zegna in a research report on Monday, September 15th. They issued an “overweight” rating and a $11.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Wednesday, October 8th. Oddo Bhf set a $11.50 price objective on Ermenegildo Zegna in a research note on Wednesday, September 17th. Finally, Jefferies Financial Group started coverage on Ermenegildo Zegna in a research report on Tuesday, October 14th. They set a “buy” rating and a $12.90 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ermenegildo Zegna has an average rating of “Hold” and an average target price of $10.37.

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.