American Assets Inc. Takes $578,000 Position in Ermenegildo Zegna (NYSE:ZGN)

American Assets Inc. acquired a new stake in shares of Ermenegildo Zegna (NYSE:ZGN) during the fourth quarter, Holdings Channel reports. The firm acquired 70,000 shares of the company’s stock, valued at approximately $578,000. Ermenegildo Zegna comprises 0.2% of American Assets Inc.’s investment portfolio, making the stock its 14th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. QVIDTVM Management LLC acquired a new position in shares of Ermenegildo Zegna in the 3rd quarter worth approximately $2,908,000. Arizona PSPRS Trust bought a new stake in Ermenegildo Zegna during the third quarter worth approximately $979,000. PDT Partners LLC grew its position in Ermenegildo Zegna by 144.0% in the third quarter. PDT Partners LLC now owns 55,549 shares of the company’s stock worth $547,000 after buying an additional 32,779 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Ermenegildo Zegna in the third quarter valued at $222,000. Finally, XTX Topco Ltd acquired a new stake in shares of Ermenegildo Zegna during the 3rd quarter valued at $215,000. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Stock Performance

Shares of ZGN opened at $7.82 on Friday. The company has a market capitalization of $3.17 billion, a PE ratio of 14.76 and a beta of 0.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41. The company’s 50 day moving average price is $8.54 and its 200 day moving average price is $8.62. Ermenegildo Zegna has a 52 week low of $7.13 and a 52 week high of $15.26.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. TD Cowen assumed coverage on Ermenegildo Zegna in a report on Tuesday, February 18th. They issued a “hold” rating and a $10.00 target price on the stock. Morgan Stanley started coverage on Ermenegildo Zegna in a research note on Friday, November 22nd. They issued an “underweight” rating and a $7.20 price target on the stock. Bank of America upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $9.40 to $8.90 in a research report on Thursday, January 16th. Finally, BNP Paribas upgraded Ermenegildo Zegna to a “hold” rating in a report on Monday, December 2nd.

About Ermenegildo Zegna

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.