Ermenegildo Zegna N.V. (NYSE:ZGN) Short Interest Update

Ermenegildo Zegna N.V. (NYSE:ZGN) saw a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 3,214,792 shares, a decrease of 14.2% from the February 26th total of 3,746,493 shares. Based on an average daily trading volume, of 737,379 shares, the days-to-cover ratio is presently 4.4 days. Currently, 0.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ZGN. Morgan Stanley initiated coverage on Ermenegildo Zegna in a research note on Thursday, February 12th. They issued an “equal weight” rating and a $11.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Wednesday, January 21st. Bank of America reiterated a “neutral” rating and set a $11.20 price target (down from $11.50) on shares of Ermenegildo Zegna in a research report on Friday, January 16th. Finally, UBS Group raised shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 price target for the company in a research note on Thursday, February 5th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.73.

Hedge Funds Weigh In On Ermenegildo Zegna

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Temasek Holdings Private Ltd boosted its stake in Ermenegildo Zegna by 114.5% during the 3rd quarter. Temasek Holdings Private Ltd now owns 27,242,276 shares of the company’s stock valued at $257,440,000 after purchasing an additional 14,542,295 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Ermenegildo Zegna by 74.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,177,804 shares of the company’s stock worth $42,822,000 after purchasing an additional 1,785,266 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Ermenegildo Zegna by 1.2% during the third quarter. Artisan Partners Limited Partnership now owns 2,123,543 shares of the company’s stock valued at $20,067,000 after purchasing an additional 24,894 shares in the last quarter. Portolan Capital Management LLC lifted its holdings in shares of Ermenegildo Zegna by 15.6% during the third quarter. Portolan Capital Management LLC now owns 1,369,176 shares of the company’s stock valued at $12,939,000 after purchasing an additional 185,190 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Ermenegildo Zegna by 73.7% during the fourth quarter. Millennium Management LLC now owns 1,188,887 shares of the company’s stock valued at $12,186,000 after buying an additional 504,546 shares during the last quarter. 12.91% of the stock is owned by institutional investors.

Ermenegildo Zegna Trading Up 3.4%

Shares of NYSE:ZGN traded up $0.35 on Wednesday, hitting $10.77. 92,806 shares of the company traded hands, compared to its average volume of 752,943. The stock has a 50 day simple moving average of $10.31 and a 200-day simple moving average of $10.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91. Ermenegildo Zegna has a 52 week low of $6.05 and a 52 week high of $11.93.

Ermenegildo Zegna (NYSE:ZGN) last released its quarterly earnings data on Friday, March 20th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The business had revenue of $577.83 million for the quarter, compared to analyst estimates of $1.17 billion. As a group, analysts predict that Ermenegildo Zegna will post 0.35 EPS for the current fiscal year.

Ermenegildo Zegna Company 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.