Ermenegildo Zegna (NYSE:ZGN) Director Alessandro Sartori Sells 6,505 Shares

Ermenegildo Zegna N.V. (NYSE:ZGN) Director Alessandro Sartori sold 6,505 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $13.12, for a total transaction of $85,345.60. Following the sale, the director owned 142,237 shares in the company, valued at approximately $1,866,149.44. The trade was a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ermenegildo Zegna Trading Down 5.0%

ZGN opened at $12.50 on Tuesday. The firm’s fifty day moving average is $11.05 and its 200 day moving average is $10.59. Ermenegildo Zegna N.V. has a fifty-two week low of $7.61 and a fifty-two week high of $13.38. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 1.59.

Ermenegildo Zegna (NYSE:ZGN) last released its quarterly earnings data on Friday, March 20th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The firm had revenue of $577.83 million during the quarter, compared to analysts’ expectations of $1.17 billion. Research analysts forecast that Ermenegildo Zegna N.V. will post 0.46 EPS for the current fiscal year.

Ermenegildo Zegna Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Monday, July 6th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, July 6th. This represents a dividend yield of 99.0%.

Analysts Set New Price Targets

ZGN has been the subject of several research reports. Wall Street Zen upgraded shares of Ermenegildo Zegna from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Monday, April 20th. UBS Group reaffirmed a “buy” rating and set a $14.50 price target on shares of Ermenegildo Zegna in a research note on Friday, May 1st. TD Cowen upped their price objective on shares of Ermenegildo Zegna from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Finally, Morgan Stanley began coverage on Ermenegildo Zegna in a research report on Thursday, February 12th. They set an “equal weight” rating and a $11.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.26.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. CWM LLC acquired a new stake in shares of Ermenegildo Zegna in the third quarter worth $25,000. California State Teachers Retirement System acquired a new position in Ermenegildo Zegna during the second quarter worth $33,000. Caitong International Asset Management Co. Ltd raised its position in shares of Ermenegildo Zegna by 11,382.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,904 shares of the company’s stock worth $40,000 after purchasing an additional 3,870 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Ermenegildo Zegna during the second quarter valued at approximately $54,000. Finally, Parallel Advisors LLC purchased a new position in Ermenegildo Zegna in the 4th quarter valued at $69,000. 12.91% of the stock is owned by institutional investors and hedge funds.

About Ermenegildo Zegna

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.