Ermenegildo Zegna (NYSE:ZGN) Sees Significant Decline in Short Interest

Ermenegildo Zegna (NYSE:ZGN) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 1,590,000 shares, a decline of 13.6% from the December 15th total of 1,840,000 shares. Approximately 2.6% of the shares of the company are short sold. Based on an average daily trading volume, of 850,300 shares, the short-interest ratio is currently 1.9 days.

Ermenegildo Zegna Trading Up 5.6 %

Shares of NYSE:ZGN opened at $8.12 on Friday. Ermenegildo Zegna has a 1-year low of $7.13 and a 1-year high of $15.26. The business’s 50 day moving average is $8.05 and its 200-day moving average is $9.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79.

Institutional Trading of Ermenegildo Zegna

Several institutional investors have recently modified their holdings of the company. Public Investment Fund grew its holdings in shares of Ermenegildo Zegna by 25.9% during the 2nd quarter. Public Investment Fund now owns 3,710,196 shares of the company’s stock worth $43,929,000 after purchasing an additional 764,122 shares in the last quarter. QVIDTVM Management LLC acquired a new stake in Ermenegildo Zegna in the 3rd quarter valued at $2,908,000. Roubaix Capital LLC acquired a new stake in Ermenegildo Zegna in the 3rd quarter valued at $2,481,000. Armistice Capital LLC boosted its stake in Ermenegildo Zegna by 547.4% in the 2nd quarter. Armistice Capital LLC now owns 239,235 shares of the company’s stock valued at $2,833,000 after buying an additional 202,281 shares in the last quarter. Finally, Arizona PSPRS Trust acquired a new stake in Ermenegildo Zegna in the 3rd quarter valued at $979,000. Institutional investors and hedge funds own 12.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ZGN shares. Bank of America raised Ermenegildo Zegna from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $9.40 to $8.90 in a research report on Thursday. BNP Paribas raised Ermenegildo Zegna to a “hold” rating in a research report on Monday, December 2nd. Finally, Morgan Stanley started coverage on Ermenegildo Zegna in a research report on Friday, November 22nd. They issued an “underweight” rating and a $7.20 price target on the stock.

Ermenegildo Zegna Company Profile

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.