Bridgewater Associates LP Trims Stock Holdings in Ermenegildo Zegna (NYSE:ZGN)

Bridgewater Associates LP lessened its stake in shares of Ermenegildo Zegna (NYSE:ZGN) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,498 shares of the company’s stock after selling 13,419 shares during the quarter. Bridgewater Associates LP’s holdings in Ermenegildo Zegna were worth $624,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Ermenegildo Zegna in the fourth quarter valued at approximately $28,000. Entropy Technologies LP purchased a new position in shares of Ermenegildo Zegna during the 4th quarter worth $84,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ermenegildo Zegna in the fourth quarter valued at $151,000. Next Capital Management LLC acquired a new position in Ermenegildo Zegna in the fourth quarter valued at $151,000. Finally, Tocqueville Asset Management L.P. purchased a new position in Ermenegildo Zegna during the fourth quarter worth about $218,000. Institutional investors and hedge funds own 12.91% of the company’s stock.

Wall Street Analyst Weigh In

ZGN has been the topic of several recent analyst reports. Bank of America upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $9.40 to $8.90 in a report on Thursday, January 16th. TD Cowen began coverage on shares of Ermenegildo Zegna in a report on Tuesday, February 18th. They issued a “hold” rating and a $10.00 price target on the stock.

Ermenegildo Zegna Stock Up 0.8 %

Shares of NYSE:ZGN opened at $6.92 on Friday. The stock has a 50-day simple moving average of $7.63 and a 200-day simple moving average of $8.04. The stock has a market capitalization of $2.82 billion, a P/E ratio of 13.05 and a beta of 0.73. Ermenegildo Zegna has a 1 year low of $6.05 and a 1 year high of $13.36. 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.