Roubaix Capital LLC Makes New Investment in Ermenegildo Zegna (NYSE:ZGN)

Roubaix Capital LLC acquired a new stake in Ermenegildo Zegna (NYSE:ZGN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 252,158 shares of the company’s stock, valued at approximately $2,481,000. Roubaix Capital LLC owned about 0.06% of Ermenegildo Zegna at the end of the most recent quarter.

Several other large investors have also modified their holdings of ZGN. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Ermenegildo Zegna during the 1st quarter worth $353,000. Susquehanna Fundamental Investments LLC purchased a new position in Ermenegildo Zegna in the 1st quarter worth approximately $563,000. Capital Research Global Investors acquired a new stake in Ermenegildo Zegna during the 1st quarter valued at $54,202,000. Capital World Investors grew its stake in shares of Ermenegildo Zegna by 34.6% during the first quarter. Capital World Investors now owns 5,195,013 shares of the company’s stock valued at $76,107,000 after acquiring an additional 1,335,945 shares in the last quarter. Finally, Quadrature Capital Ltd raised its position in shares of Ermenegildo Zegna by 162.0% in the 1st quarter. Quadrature Capital Ltd now owns 101,067 shares of the company’s stock valued at $1,483,000 after purchasing an additional 62,488 shares in the last quarter. 12.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Bank of America lowered shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $9.80 in a research note on Monday, September 23rd.

Ermenegildo Zegna Trading Down 1.1 %

ZGN opened at $7.80 on Thursday. The stock has a fifty day moving average of $9.15 and a 200-day moving average of $10.79. Ermenegildo Zegna has a 12-month low of $7.75 and a 12-month high of $15.26. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41.

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.