American Assets Inc. Makes New Investment in Ermenegildo Zegna (NYSE:ZGN)

American Assets Inc. purchased a new position in Ermenegildo Zegna (NYSE:ZGN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 70,000 shares of the company’s stock, valued at approximately $578,000. Ermenegildo Zegna makes up about 0.2% of American Assets Inc.’s portfolio, making the stock its 14th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of Ermenegildo Zegna in the 4th quarter valued at approximately $28,000. Entropy Technologies LP acquired a new stake in Ermenegildo Zegna in the fourth quarter valued at $84,000. Verition Fund Management LLC acquired a new position in Ermenegildo Zegna during the 3rd quarter worth $149,000. XTX Topco Ltd bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter worth about $215,000. Finally, Jane Street Group LLC acquired a new stake in shares of Ermenegildo Zegna in the 3rd quarter valued at about $222,000. Hedge funds and other institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Stock Down 2.5 %

Shares of Ermenegildo Zegna stock opened at $7.82 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. The business’s 50 day simple moving average is $8.54 and its 200-day simple moving average is $8.62. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 14.76 and a beta of 0.69. Ermenegildo Zegna has a twelve month low of $7.13 and a twelve month high of $15.26.

Analysts Set New Price Targets

A number of equities analysts recently commented on ZGN shares. BNP Paribas upgraded Ermenegildo Zegna to a “hold” rating in a research note on Monday, December 2nd. Morgan Stanley initiated coverage on Ermenegildo Zegna in a research report on Friday, November 22nd. They issued an “underweight” rating and a $7.20 target price for the company. Bank of America raised Ermenegildo Zegna from a “neutral” rating to a “buy” rating and dropped their price target for the company from $9.40 to $8.90 in a research report on Thursday, January 16th. Finally, TD Cowen assumed coverage on shares of Ermenegildo Zegna in a report on Tuesday, February 18th. They issued a “hold” rating and a $10.00 price objective for the company.

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.