Jane Street Group LLC Acquires Shares of 22,582 Ermenegildo Zegna (NYSE:ZGN)

Jane Street Group LLC bought a new position in shares of Ermenegildo Zegna (NYSE:ZGN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 22,582 shares of the company’s stock, valued at approximately $222,000.

Other institutional investors also recently added to or reduced their stakes in the company. Public Investment Fund boosted its position in Ermenegildo Zegna by 25.9% in the 2nd quarter. Public Investment Fund now owns 3,710,196 shares of the company’s stock valued at $43,929,000 after buying an additional 764,122 shares during the period. QVIDTVM Management LLC bought a new stake in shares of Ermenegildo Zegna during the third quarter valued at approximately $2,908,000. Roubaix Capital LLC bought a new position in Ermenegildo Zegna in the third quarter worth approximately $2,481,000. Armistice Capital LLC increased its holdings in Ermenegildo Zegna by 547.4% during the 2nd quarter. Armistice Capital LLC now owns 239,235 shares of the company’s stock worth $2,833,000 after purchasing an additional 202,281 shares during the period. Finally, Arizona PSPRS Trust bought a new stake in Ermenegildo Zegna during the 3rd quarter valued at $979,000. Hedge funds and other institutional investors own 12.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ZGN shares. Morgan Stanley initiated coverage on Ermenegildo Zegna in a report on Friday, November 22nd. They issued an “underweight” rating and a $7.20 target price for the company. BNP Paribas raised shares of Ermenegildo Zegna to a “hold” rating in a research note on Monday, December 2nd. Finally, Bank of America downgraded shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and cut their target price for the company from $13.00 to $9.80 in a research report on Monday, September 23rd.

Ermenegildo Zegna Stock Performance

Shares of NYSE:ZGN opened at $7.75 on Monday. 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 company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 15.20 and a beta of 0.66. The firm has a 50 day moving average of $8.04 and a 200 day moving average of $9.24. Ermenegildo Zegna has a 52 week low of $7.13 and a 52 week high of $15.26.

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.