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

Next Capital Management LLC acquired a new stake in shares of Ermenegildo Zegna (NYSE:ZGN) during the fourth quarter, Holdings Channel.com reports. The fund acquired 18,275 shares of the company’s stock, valued at approximately $151,000.

Several other large investors have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of Ermenegildo Zegna during the 4th quarter worth about $28,000. Entropy Technologies LP acquired a new position in Ermenegildo Zegna in the fourth quarter worth approximately $84,000. Verition Fund Management LLC bought a new position in Ermenegildo Zegna during the third quarter valued at approximately $149,000. XTX Topco Ltd acquired a new stake in Ermenegildo Zegna in the third quarter valued at approximately $215,000. Finally, Jane Street Group LLC acquired a new stake in Ermenegildo Zegna in the third quarter valued at approximately $222,000. Institutional investors and hedge funds own 12.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ZGN. BNP Paribas upgraded shares of Ermenegildo Zegna to a “hold” rating in a research note on Monday, December 2nd. Morgan Stanley began coverage on shares of Ermenegildo Zegna in a research report on Friday, November 22nd. They set an “underweight” rating and a $7.20 target price on the stock. Bank of America upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and cut their target price for the company from $9.40 to $8.90 in a report on Thursday, January 16th. Finally, TD Cowen began coverage on Ermenegildo Zegna in a research note on Tuesday, February 18th. They set a “hold” rating and a $10.00 price target for the company.

Ermenegildo Zegna Price Performance

NYSE ZGN opened at $7.29 on Wednesday. Ermenegildo Zegna has a 1 year low of $7.13 and a 1 year high of $15.26. The company has a fifty day simple moving average of $8.44 and a 200 day simple moving average of $8.46. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.95 billion, a P/E ratio of 13.75 and a beta of 0.69.

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.