Ermenegildo Zegna (NYSE:ZGN – Get Free Report) was up 4.4% during trading on Wednesday . The stock traded as high as $11.62 and last traded at $11.51. Approximately 653,654 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 688,747 shares. The stock had previously closed at $11.02.
Analyst Ratings Changes
Separately, The Goldman Sachs Group raised shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and upped their target price for the stock from $17.00 to $18.70 in a research report on Thursday, January 11th.
Ermenegildo Zegna Stock Down 1.2 %
Institutional Investors Weigh In On Ermenegildo Zegna
A number of large investors have recently modified their holdings of the business. Penserra Capital Management LLC increased its position in shares of Ermenegildo Zegna by 83.0% in the first quarter. Penserra Capital Management LLC now owns 12,189 shares of the company’s stock valued at $128,000 after buying an additional 5,530 shares in the last quarter. Invesco Ltd. acquired a new position in Ermenegildo Zegna during the 1st quarter worth about $59,749,000. JPMorgan Chase & Co. acquired a new position in Ermenegildo Zegna during the 2nd quarter worth about $267,000. Rhumbline Advisers acquired a new position in Ermenegildo Zegna during the 2nd quarter worth about $652,000. Finally, Northern Trust Corp acquired a new stake in Ermenegildo Zegna in the 2nd quarter valued at about $2,853,000. Hedge funds and other institutional investors own 12.91% of the company’s stock.
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.
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