Tabor Asset Management LP Sells 59,173 Shares of Ermenegildo Zegna N.V. $ZGN

Tabor Asset Management LP trimmed its stake in Ermenegildo Zegna N.V. (NYSE:ZGN) by 8.5% in the third quarter, HoldingsChannel reports. The firm owned 640,199 shares of the company’s stock after selling 59,173 shares during the period. Ermenegildo Zegna makes up about 3.6% of Tabor Asset Management LP’s portfolio, making the stock its 7th largest position. Tabor Asset Management LP’s holdings in Ermenegildo Zegna were worth $6,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. CWM LLC bought a new position in Ermenegildo Zegna during the 3rd quarter valued at $25,000. California State Teachers Retirement System bought a new position in shares of Ermenegildo Zegna during the 2nd quarter worth $33,000. Ameritas Investment Partners Inc. purchased a new stake in Ermenegildo Zegna in the 2nd quarter worth about $54,000. Lazard Asset Management LLC bought a new stake in Ermenegildo Zegna in the 2nd quarter valued at about $54,000. Finally, Legal & General Group Plc purchased a new stake in Ermenegildo Zegna during the second quarter valued at about $59,000. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Trading Down 0.7%

NYSE:ZGN opened at $10.40 on Tuesday. The business has a 50 day moving average of $10.45 and a 200 day moving average of $10.04. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.79 and a current ratio of 1.42. Ermenegildo Zegna N.V. has a 1-year low of $6.05 and a 1-year high of $11.93.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ZGN. UBS Group upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 price target on the stock in a research note on Thursday, February 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Wednesday, January 21st. Sanford C. Bernstein started coverage on Ermenegildo Zegna in a research note on Tuesday, November 25th. They set an “outperform” rating and a $13.00 price objective on the stock. Bank of America reissued a “neutral” rating and set a $11.20 price objective (down from $11.50) on shares of Ermenegildo Zegna in a report on Friday, January 16th. Finally, Morgan Stanley started coverage on Ermenegildo Zegna in a report on Thursday, February 12th. They set an “equal weight” rating and a $11.00 target price for the company. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.73.

Ermenegildo Zegna 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.