Ermenegildo Zegna (NYSE:ZGN) Sees Strong Trading Volume – What’s Next?

Ermenegildo Zegna N.V. (NYSE:ZGN) shares saw unusually-strong trading volume on Thursday. 1,209,314 shares were traded during trading, an increase of 22% from the average daily volume of 988,648 shares. The stock last traded at $13.5680 and had previously closed at $14.88.

Wall Street Analysts Forecast Growth

ZGN has been the subject of several recent research reports. Weiss Ratings lowered shares of Ermenegildo Zegna from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 3rd. Royal Bank Of Canada assumed coverage on shares of Ermenegildo Zegna in a report on Tuesday, October 27th. They set an “outperform” rating and a $16.00 target price on the stock. TD Cowen initiated coverage on shares of Ermenegildo Zegna in a research report on Friday, October 30th. They set a “strong-buy” rating for the company. Morgan Stanley set a $13.00 price target on Ermenegildo Zegna in a report on Monday, September 7th. Finally, Wall Street Zen lowered Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.08.

Ermenegildo Zegna Trading Down 8.1%

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.47 and a quick ratio of 0.80. The business’s fifty day simple moving average is $12.80 and its 200 day simple moving average is $12.44.

Insider Buying and Selling at Ermenegildo Zegna

In other Ermenegildo Zegna news, Director Michele Norsa sold 8,000 shares of the stock in a transaction 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 sale, the director directly owned 158,348 shares of the company’s stock, valued at $2,104,444.92. This trade represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.

Institutional Trading of Ermenegildo Zegna

A number of institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its holdings in Ermenegildo Zegna by 48.3% during the first quarter. EverSource Wealth Advisors LLC now owns 2,788 shares of the company’s stock worth $29,000 after purchasing an additional 908 shares in the last quarter. GAMMA Investing LLC boosted its stake in Ermenegildo Zegna by 216.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,740 shares of the company’s stock valued at $47,000 after purchasing an additional 2,560 shares in the last quarter. State of Wyoming bought a new position in Ermenegildo Zegna during the 1st quarter valued at $150,000. Handelsbanken Fonder AB boosted its stake in Ermenegildo Zegna by 21.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company’s stock valued at $492,000 after purchasing an additional 6,800 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its position in shares of Ermenegildo Zegna by 28.1% during the 2nd quarter. Central Pacific Bank Trust Division now owns 43,302 shares of the company’s stock valued at $564,000 after purchasing an additional 9,492 shares during the period. 12.91% of the stock is 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.