Gian Franco Santhia Sells 5,768 Shares of Ermenegildo Zegna (NYSE:ZGN) Stock

Ermenegildo Zegna N.V. (NYSE:ZGN) CFO Gian Franco Santhia sold 5,768 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $13.12, for a total transaction of $75,676.16. Following the transaction, the chief financial officer directly owned 44,448 shares of the company’s stock, valued at $583,157.76. The trade was a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ermenegildo Zegna Trading Down 0.9%

Shares of Ermenegildo Zegna stock opened at $12.40 on Wednesday. Ermenegildo Zegna N.V. has a twelve month low of $7.61 and a twelve month high of $13.38. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 1.59. The company’s 50 day moving average is $11.07 and its 200 day moving average is $10.61.

Ermenegildo Zegna (NYSE:ZGN) last announced its earnings results on Friday, March 20th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The business had revenue of $577.83 million for the quarter, compared to analyst estimates of $1.17 billion. Research analysts predict that Ermenegildo Zegna N.V. will post 0.46 EPS for the current fiscal year.

Ermenegildo Zegna Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, July 29th. Investors of record on Monday, July 6th will be given a dividend of $0.12 per share. This represents a yield of 99.0%. The ex-dividend date is Monday, July 6th.

Institutional Trading of Ermenegildo Zegna

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its position in shares of Ermenegildo Zegna by 182.8% during the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock valued at $8,503,000 after buying an additional 742,680 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Ermenegildo Zegna by 22.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company’s stock worth $995,000 after acquiring an additional 24,862 shares in the last quarter. Jane Street Group LLC bought a new stake in Ermenegildo Zegna during the 1st quarter worth approximately $1,161,000. Geode Capital Management LLC bought a new stake in Ermenegildo Zegna during the 2nd quarter worth approximately $6,245,000. Finally, JPMorgan Chase & Co. lifted its holdings in Ermenegildo Zegna by 59,691.8% during the second quarter. JPMorgan Chase & Co. now owns 29,298 shares of the company’s stock valued at $250,000 after purchasing an additional 29,249 shares in the last quarter. Hedge funds and other institutional investors own 12.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ZGN shares. UBS Group reissued a “buy” rating and issued a $14.50 target price on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Monday, April 20th. Morgan Stanley initiated coverage on shares of Ermenegildo Zegna in a report on Thursday, February 12th. They issued an “equal weight” rating and a $11.00 price objective on the stock. Wall Street Zen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Bank of America reaffirmed a “neutral” rating and set a $11.20 target price (down from $11.50) on shares of Ermenegildo Zegna in a report on Friday, January 16th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.26.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.