99,500 Shares in Ermenegildo Zegna (NYSE:ZGN) Purchased by Arizona PSPRS Trust

Arizona PSPRS Trust acquired a new position in Ermenegildo Zegna (NYSE:ZGN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 99,500 shares of the company’s stock, valued at approximately $979,000.

Several other institutional investors also recently bought and sold shares of the company. nVerses Capital LLC lifted its position in shares of Ermenegildo Zegna by 525.0% in the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $30,000 after purchasing an additional 2,100 shares during the period. Verition Fund Management LLC purchased a new stake in Ermenegildo Zegna during the third quarter worth $149,000. SG Americas Securities LLC bought a new stake in Ermenegildo Zegna during the 3rd quarter valued at $330,000. PDT Partners LLC increased its holdings in shares of Ermenegildo Zegna by 144.0% in the 3rd quarter. PDT Partners LLC now owns 55,549 shares of the company’s stock valued at $547,000 after acquiring an additional 32,779 shares during the period. Finally, Roubaix Capital LLC bought a new position in shares of Ermenegildo Zegna in the 3rd quarter worth $2,481,000. 12.91% of the stock is currently owned by hedge funds and other institutional investors.

Ermenegildo Zegna Trading Up 2.7 %

NYSE:ZGN opened at $8.09 on Monday. Ermenegildo Zegna has a twelve month low of $7.13 and a twelve month high of $15.26. The company’s 50 day moving average is $8.14 and its two-hundred day moving average is $10.07. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79.

Analysts Set New Price Targets

Several research firms have issued reports on ZGN. Morgan Stanley began coverage on Ermenegildo Zegna in a research note on Friday, November 22nd. They issued an “underweight” rating and a $7.20 target price on the stock. Bank of America downgraded shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $13.00 to $9.80 in a research report on Monday, September 23rd.

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.