Ermenegildo Zegna (NYSE:ZGN) Director Alessandro Sartori Sells 6,505 Shares

Ermenegildo Zegna N.V. (NYSE:ZGN) Director Alessandro Sartori sold 6,505 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $13.12, for a total transaction of $85,345.60. Following the transaction, the director directly owned 142,237 shares in the company, valued at approximately $1,866,149.44. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ermenegildo Zegna Stock Performance

ZGN traded down $0.67 during trading on Monday, hitting $12.49. 163,688 shares of the company’s stock were exchanged, compared to its average volume of 751,829. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 1.59. The business’s 50 day moving average is $11.00 and its two-hundred day moving average is $10.56. Ermenegildo Zegna N.V. has a fifty-two week low of $7.61 and a fifty-two week high of $13.38.

Ermenegildo Zegna (NYSE:ZGN) last released its quarterly earnings data on Friday, March 20th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.11). The business had revenue of $577.83 million for the quarter, compared to analysts’ expectations of $1.17 billion. As a group, analysts predict that Ermenegildo Zegna N.V. will post 0.46 EPS for the current year.

Ermenegildo Zegna Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Monday, July 6th will be issued a $0.12 dividend. The ex-dividend date is Monday, July 6th. This represents a dividend yield of 99.0%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ZGN. Morgan Stanley began coverage on shares of Ermenegildo Zegna in a report on Thursday, February 12th. They set an “equal weight” rating and a $11.00 price objective for the company. Bank of America restated 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. TD Cowen raised their price objective on shares of Ermenegildo Zegna from $11.00 to $13.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Monday, April 20th. Finally, UBS Group restated a “buy” rating and set a $14.50 price objective on shares of Ermenegildo Zegna in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.26.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ZGN. Millennium Management LLC boosted its holdings in Ermenegildo Zegna by 182.8% in the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock worth $8,503,000 after buying an additional 742,680 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Ermenegildo Zegna by 22.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company’s stock worth $995,000 after buying an additional 24,862 shares during the period. Jane Street Group LLC bought a new position in Ermenegildo Zegna in the 1st quarter worth approximately $1,161,000. Geode Capital Management LLC bought a new position in Ermenegildo Zegna in the 2nd quarter worth approximately $6,245,000. Finally, JPMorgan Chase & Co. boosted its holdings in Ermenegildo Zegna by 59,691.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 29,298 shares of the company’s stock worth $250,000 after buying an additional 29,249 shares during the period. 12.91% of the stock is owned by institutional investors.

About Ermenegildo Zegna

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.