Ermenegildo Zegna (NYSE:ZGN – Get Free Report)’s share price reached a new 52-week low on Wednesday . The company traded as low as $7.85 and last traded at $7.97, with a volume of 37974 shares. The stock had previously closed at $8.00.
Wall Street Analysts Forecast Growth
Separately, Bank of America downgraded shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and cut their price target for the company from $13.00 to $9.80 in a report on Monday, September 23rd.
Check Out Our Latest Stock Analysis on Ermenegildo Zegna
Ermenegildo Zegna Price Performance
Hedge Funds Weigh In On Ermenegildo Zegna
Several hedge funds have recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in Ermenegildo Zegna by 34.6% during the 1st quarter. Capital World Investors now owns 5,195,013 shares of the company’s stock valued at $76,107,000 after purchasing an additional 1,335,945 shares during the last quarter. Public Investment Fund grew its stake in Ermenegildo Zegna by 25.9% in the 2nd quarter. Public Investment Fund now owns 3,710,196 shares of the company’s stock worth $43,929,000 after acquiring an additional 764,122 shares in the last quarter. Capital Research Global Investors bought a new position in Ermenegildo Zegna in the 1st quarter worth about $54,202,000. Liontrust Investment Partners LLP bought a new position in Ermenegildo Zegna in the 2nd quarter worth about $2,960,000. Finally, Armistice Capital LLC grew its stake in Ermenegildo Zegna by 547.4% in the 2nd quarter. Armistice Capital LLC now owns 239,235 shares of the company’s stock worth $2,833,000 after acquiring an additional 202,281 shares in the last quarter. 12.91% of the stock is currently owned by institutional investors.
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.
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