Ermenegildo Zegna (NYSE:ZGN) Director Michele Norsa Sells 8,000 Shares of Company Stock

Ermenegildo Zegna N.V. (NYSE:ZGN) Director Michele Norsa sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $13.29, for a total value of $106,320.00. Following the transaction, the director owned 158,348 shares in the company, valued at approximately $2,104,444.92. This trade represents a 4.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Ermenegildo Zegna Stock Up 0.9%

NYSE:ZGN opened at $13.40 on Friday. The stock has a 50 day simple moving average of $12.78 and a 200 day simple moving average of $12.37. Ermenegildo Zegna N.V. has a 1-year low of $8.65 and a 1-year high of $15.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.47 and a quick ratio of 0.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group reduced their target price on shares of Ermenegildo Zegna from $15.50 to $15.40 and set a “buy” rating for the company in a research report on Monday, October 5th. Royal Bank Of Canada assumed coverage on shares of Ermenegildo Zegna in a research note on Tuesday. They issued an “outperform” rating and a $16.00 price target on the stock. BNP Paribas Exane lowered shares of Ermenegildo Zegna from a “neutral” rating to an “underperform” rating and set a $12.20 price target on the stock. in a research report on Tuesday, August 11th. HSBC assumed coverage on shares of Ermenegildo Zegna in a research note on Tuesday, October 6th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of Ermenegildo Zegna in a report on Sunday, October 4th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.08.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ZGN. State of Wyoming increased its stake in shares of Ermenegildo Zegna by 141.2% in the 3rd quarter. State of Wyoming now owns 25,518 shares of the company’s stock valued at $319,000 after purchasing an additional 14,939 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Ermenegildo Zegna by 216.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,740 shares of the company’s stock worth $47,000 after buying an additional 2,560 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Ermenegildo Zegna during the 2nd quarter worth $601,000. Wellington Management Group LLP acquired a new stake in Ermenegildo Zegna in the second quarter valued at about $1,890,000. Finally, Handelsbanken Fonder AB grew its position in Ermenegildo Zegna by 21.9% in the second quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company’s stock valued at $492,000 after acquiring an additional 6,800 shares during the last quarter. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna N.V. is a global luxury-goods group specializing in menswear, accessories and related lifestyle products. Its portfolio includes the Zegna brand, known for tailored clothing, ready-to-wear apparel, footwear, leather goods and fabrics, as well as Thom Browne, a luxury fashion brand offering menswear, womenswear, accessories and footwear.

The company also operates the TOM FORD FASHION business, which includes luxury apparel, accessories and footwear under the TOM FORD brand.