Ermenegildo Zegna (NYSE:ZGN) Trading 9.1% Higher

Ermenegildo Zegna (NYSE:ZGN) shares shot up 9.1% on Thursday . The stock traded as high as $9.31 and last traded at $9.31. 343,968 shares traded hands during trading, a decline of 34% from the average session volume of 518,199 shares. The stock had previously closed at $8.53.

Analysts Set New Price Targets

Separately, Bank of America lowered Ermenegildo Zegna from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $13.00 to $9.80 in a report on Monday, September 23rd.

Ermenegildo Zegna Trading Up 5.2 %

The company has a fifty day moving average of $10.13 and a two-hundred day moving average of $11.67. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 2.15 and a beta of 0.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. nVerses Capital LLC lifted its position in Ermenegildo Zegna by 525.0% in the second quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $30,000 after purchasing an additional 2,100 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Ermenegildo Zegna during the 1st quarter worth approximately $353,000. Quadrature Capital Ltd raised its stake in shares of Ermenegildo Zegna by 49.7% during the 4th quarter. Quadrature Capital Ltd now owns 38,579 shares of the company’s stock worth $446,000 after buying an additional 12,805 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Ermenegildo Zegna during the 1st quarter worth approximately $563,000. Finally, Armistice Capital LLC lifted its holdings in shares of Ermenegildo Zegna by 547.4% in the 2nd quarter. Armistice Capital LLC now owns 239,235 shares of the company’s stock valued at $2,833,000 after buying an additional 202,281 shares during the period. 12.91% of the stock is currently owned by institutional investors and hedge funds.

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.