Ermenegildo Zegna (NYSE:ZGN) Shares Gap Down – Time to Sell?

Shares of Ermenegildo Zegna (NYSE:ZGN) gapped down before the market opened on Friday . The stock had previously closed at $7.76, but opened at $7.51. Ermenegildo Zegna shares last traded at $7.61, with a volume of 153,539 shares trading hands.

Analyst Upgrades and Downgrades

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

Ermenegildo Zegna Stock Up 0.6 %

The firm has a 50 day moving average price of $8.37 and a 200-day moving average price of $8.34. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 14.78 and a beta of 0.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ZGN. SBI Securities Co. Ltd. bought a new stake in shares of Ermenegildo Zegna during the fourth quarter worth approximately $28,000. Entropy Technologies LP acquired a new position in shares of Ermenegildo Zegna in the 4th quarter valued at $84,000. Mirabella Financial Services LLP bought a new position in shares of Ermenegildo Zegna in the 4th quarter worth $87,000. Verition Fund Management LLC acquired a new stake in shares of Ermenegildo Zegna during the third quarter worth $149,000. Finally, Vident Advisory LLC bought a new stake in Ermenegildo Zegna in the fourth quarter valued at about $126,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

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.