Bank of America Corp DE Grows Stock Position in Ermenegildo Zegna N.V. $ZGN

Bank of America Corp DE raised its holdings in Ermenegildo Zegna N.V. (NYSE:ZGN) by 483.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 583,360 shares of the company’s stock after buying an additional 483,332 shares during the quarter. Bank of America Corp DE’s holdings in Ermenegildo Zegna were worth $6,079,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ZGN. Osborne Partners Capital Management LLC raised its position in shares of Ermenegildo Zegna by 34.8% in the 1st quarter. Osborne Partners Capital Management LLC now owns 942,458 shares of the company’s stock worth $9,820,000 after buying an additional 243,137 shares during the period. Spectrum Strategic Capital Management LLC grew its position in Ermenegildo Zegna by 903.3% during the fourth quarter. Spectrum Strategic Capital Management LLC now owns 111,572 shares of the company’s stock valued at $1,144,000 after acquiring an additional 100,452 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its stake in Ermenegildo Zegna by 82.3% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 354,608 shares of the company’s stock worth $3,695,000 after acquiring an additional 160,078 shares during the last quarter. Lombard Odier Asset Management USA Corp acquired a new stake in Ermenegildo Zegna during the first quarter worth about $1,198,000. Finally, Amundi acquired a new stake in Ermenegildo Zegna during the first quarter worth about $10,686,000. Institutional investors and hedge funds own 12.91% of the company’s stock.

Ermenegildo Zegna Price Performance

NYSE:ZGN opened at $13.75 on Thursday. The business’s 50-day moving average is $13.88 and its two-hundred day moving average is $12.61. Ermenegildo Zegna N.V. has a 12 month low of $8.22 and a 12 month high of $15.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ZGN shares. TD Cowen lifted their price objective on Ermenegildo Zegna from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Weiss Ratings raised shares of Ermenegildo Zegna from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. UBS Group restated a “buy” rating and issued a $14.50 price target on shares of Ermenegildo Zegna in a report on Friday, May 1st. Wall Street Zen cut shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, The Goldman Sachs Group downgraded shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $13.30 to $14.00 in a research note on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.13.

Ermenegildo Zegna Profile

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.