Ermenegildo Zegna N.V. (NYSE:ZGN) Short Interest Down 14.2% in March

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

Ermenegildo Zegna Trading Up 4.5%

ZGN traded up $0.44 during trading on Tuesday, hitting $10.29. The company’s stock had a trading volume of 135,370 shares, compared to its average volume of 757,100. The business’s 50 day simple moving average is $10.29 and its 200-day simple moving average is $10.19. Ermenegildo Zegna has a one year low of $6.05 and a one year high of $11.93. The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.15.

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

Analysts Set New Price Targets

ZGN has been the topic of a number of research reports. UBS Group upgraded 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. Bank of America reiterated a “neutral” rating and set a $11.20 price objective (down from $11.50) on shares of Ermenegildo Zegna in a research report on Friday, January 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Wednesday, January 21st. Finally, Morgan Stanley began coverage on Ermenegildo Zegna in a research note on Thursday, February 12th. They set an “equal weight” rating and a $11.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Ermenegildo Zegna currently has a consensus rating of “Moderate Buy” and an average target price of $11.73.

Institutional Trading of Ermenegildo Zegna

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vident Advisory LLC raised its stake in shares of Ermenegildo Zegna by 6.5% in the fourth quarter. Vident Advisory LLC now owns 18,001 shares of the company’s stock worth $185,000 after buying an additional 1,097 shares during the period. Occudo Quantitative Strategies LP grew its stake in shares of Ermenegildo Zegna by 72.9% during the 4th quarter. Occudo Quantitative Strategies LP now owns 88,433 shares of the company’s stock valued at $906,000 after acquiring an additional 37,273 shares during the period. Millennium Management LLC increased its holdings in Ermenegildo Zegna by 73.7% in the 4th quarter. Millennium Management LLC now owns 1,188,887 shares of the company’s stock worth $12,186,000 after acquiring an additional 504,546 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Ermenegildo Zegna during the 4th quarter worth approximately $1,396,000. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Ermenegildo Zegna by 527.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 86,439 shares of the company’s stock valued at $886,000 after purchasing an additional 72,671 shares in the last quarter. Hedge funds and other institutional investors own 12.91% of the company’s stock.

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.