QVIDTVM Management LLC Takes Position in Ermenegildo Zegna (NYSE:ZGN)

QVIDTVM Management LLC bought a new stake in Ermenegildo Zegna (NYSE:ZGN) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 295,562 shares of the company’s stock, valued at approximately $2,908,000. Ermenegildo Zegna makes up 2.0% of QVIDTVM Management LLC’s portfolio, making the stock its 7th largest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. nVerses Capital LLC raised its holdings in Ermenegildo Zegna by 525.0% in the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $30,000 after acquiring an additional 2,100 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Ermenegildo Zegna during the third quarter valued at approximately $330,000. Armistice Capital LLC raised its stake in shares of Ermenegildo Zegna by 547.4% in the second quarter. Armistice Capital LLC now owns 239,235 shares of the company’s stock valued at $2,833,000 after purchasing an additional 202,281 shares in the last quarter. Liontrust Investment Partners LLP bought a new position in Ermenegildo Zegna in the second quarter worth $2,960,000. Finally, Roubaix Capital LLC bought a new position in Ermenegildo Zegna in the third quarter worth $2,481,000. 12.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ZGN shares. Bank of America lowered shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and lowered their price target for the company from $13.00 to $9.80 in a report on Monday, September 23rd. Morgan Stanley started coverage on shares of Ermenegildo Zegna in a research note on Friday. They issued an “underweight” rating and a $7.20 target price on the stock.

Ermenegildo Zegna Stock Performance

Shares of ZGN stock opened at $7.97 on Tuesday. The stock’s fifty day simple moving average is $8.22 and its 200 day simple moving average is $10.20. Ermenegildo Zegna has a one year low of $7.13 and a one year high of $15.26. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24.

Ermenegildo Zegna 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.