Ermenegildo Zegna (NYSE:ZGN) Sees Large Volume Increase – Here’s What Happened

Ermenegildo Zegna (NYSE:ZGNGet Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 1,821,674 shares traded hands during mid-day trading, an increase of 232% from the previous session’s volume of 549,110 shares.The stock last traded at $7.43 and had previously closed at $7.15.

Analyst Ratings Changes

Separately, Bank of America cut Ermenegildo Zegna from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $13.00 to $9.80 in a report on Monday, September 23rd.

Check Out Our Latest Analysis on Ermenegildo Zegna

Ermenegildo Zegna Stock Up 4.2 %

The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $8.87 and a two-hundred day moving average of $10.66.

Hedge Funds Weigh In On Ermenegildo Zegna

Large investors have recently bought and sold shares of the business. nVerses Capital LLC raised its holdings in Ermenegildo Zegna by 525.0% in the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $30,000 after purchasing an additional 2,100 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Ermenegildo Zegna in the 1st quarter worth about $353,000. SG Americas Securities LLC acquired a new position in Ermenegildo Zegna in the 3rd quarter worth about $330,000. Susquehanna Fundamental Investments LLC acquired a new position in Ermenegildo Zegna in the 1st quarter worth about $563,000. Finally, Quadrature Capital Ltd raised its holdings in Ermenegildo Zegna by 162.0% in the 1st quarter. Quadrature Capital Ltd now owns 101,067 shares of the company’s stock worth $1,483,000 after purchasing an additional 62,488 shares during the period. Institutional investors and hedge funds own 12.91% of the company’s stock.

Ermenegildo Zegna Company Profile

(Get Free Report)

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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