Ermenegildo Zegna (NYSE:ZGN) Reaches New 52-Week Low – Here’s Why

Ermenegildo Zegna (NYSE:ZGN)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $7.09 and last traded at $7.11, with a volume of 271553 shares. The stock had previously closed at $7.31.

Analyst Ratings Changes

ZGN has been the topic of a number of research reports. Bank of America upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $9.40 to $8.90 in a research note on Thursday, January 16th. TD Cowen assumed coverage on Ermenegildo Zegna in a research report on Tuesday, February 18th. They issued a “hold” rating and a $10.00 target price for the company. Finally, BNP Paribas raised shares of Ermenegildo Zegna to a “hold” rating in a research report on Monday, December 2nd.

Ermenegildo Zegna Trading Up 9.7 %

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 company has a market cap of $3.15 billion, a PE ratio of 14.65 and a beta of 0.69. The company has a fifty day simple moving average of $8.38 and a two-hundred day simple moving average of $8.34.

Institutional Trading of Ermenegildo Zegna

A number of large investors have recently made changes to their positions in ZGN. Public Investment Fund grew its holdings in Ermenegildo Zegna by 57.3% during the 4th quarter. Public Investment Fund now owns 5,834,324 shares of the company’s stock worth $48,192,000 after acquiring an additional 2,124,128 shares in the last quarter. Alpine Investment Management Ltd purchased a new position in shares of Ermenegildo Zegna in the 4th quarter valued at about $7,100,000. Tabor Asset Management LP raised its position in shares of Ermenegildo Zegna by 362.0% during the 4th quarter. Tabor Asset Management LP now owns 959,643 shares of the company’s stock worth $7,927,000 after acquiring an additional 751,930 shares in the last quarter. Invesco Ltd. lifted its stake in Ermenegildo Zegna by 10.0% during the fourth quarter. Invesco Ltd. now owns 6,386,184 shares of the company’s stock worth $52,750,000 after purchasing an additional 581,696 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Ermenegildo Zegna in the fourth quarter valued at approximately $4,172,000. 12.91% of the stock is currently owned by hedge funds and other 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.