Ermenegildo Zegna (NYSE:ZGN) Reaches New 52-Week Low – Time to Sell?

Shares of Ermenegildo Zegna (NYSE:ZGN) reached a new 52-week low on Tuesday . The stock traded as low as $7.09 and last traded at $7.11, with a volume of 271553 shares trading hands. The stock had previously closed at $7.31.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Bank of America raised Ermenegildo Zegna from a “neutral” rating to a “buy” rating and cut their price target for the stock from $9.40 to $8.90 in a report on Thursday, January 16th. TD Cowen started coverage on shares of Ermenegildo Zegna in a report on Tuesday, February 18th. They issued a “hold” rating and a $10.00 price objective for the company. Finally, BNP Paribas upgraded shares of Ermenegildo Zegna to a “hold” rating in a research report on Monday, December 2nd.

Ermenegildo Zegna Stock Down 2.2 %

The company has a market cap of $2.90 billion, a price-to-earnings ratio of 13.49 and a beta of 0.69. 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 business has a 50-day simple moving average of $8.40 and a two-hundred day simple moving average of $8.37.

Hedge Funds Weigh In On Ermenegildo Zegna

Large investors have recently added to or reduced their stakes in the company. Public Investment Fund raised its holdings in shares of Ermenegildo Zegna by 57.3% in the 4th quarter. Public Investment Fund now owns 5,834,324 shares of the company’s stock worth $48,192,000 after buying an additional 2,124,128 shares in the last quarter. Alpine Investment Management Ltd bought a new position in Ermenegildo Zegna in the 4th quarter valued at $7,100,000. Tabor Asset Management LP boosted its stake in Ermenegildo Zegna by 362.0% in the fourth quarter. Tabor Asset Management LP now owns 959,643 shares of the company’s stock worth $7,927,000 after purchasing an additional 751,930 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Ermenegildo Zegna by 10.0% during the fourth quarter. Invesco Ltd. now owns 6,386,184 shares of the company’s stock worth $52,750,000 after purchasing an additional 581,696 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Ermenegildo Zegna in the fourth quarter valued at $4,172,000. Institutional investors and hedge funds own 12.91% of the company’s stock.

Ermenegildo Zegna Company Profile

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.