Ermenegildo Zegna (NYSE:ZGN) Stock: Insider Michele Norsa Sells 8,000 Shares

Ermenegildo Zegna N.V. (NYSE:ZGN) Director Michele Norsa sold 8,000 shares of the firm’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $13.29, for a total value of $106,320.00. Following the completion of the transaction, the director owned 158,348 shares in the company, valued at approximately $2,104,444.92. This trade represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ermenegildo Zegna Price Performance

Shares of NYSE:ZGN opened at $13.45 on Friday. The stock’s 50-day simple moving average is $12.78 and its two-hundred day simple moving average is $12.39. Ermenegildo Zegna N.V. has a 52-week low of $8.65 and a 52-week high of $15.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.47 and a quick ratio of 0.80.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wall Street Zen cut Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. UBS Group decreased their price objective on shares of Ermenegildo Zegna from $15.50 to $15.40 and set a “buy” rating on the stock in a research report on Monday, October 5th. BNP Paribas Exane lowered Ermenegildo Zegna from a “neutral” rating to an “underperform” rating and set a $12.20 price target for the company. in a research note on Tuesday, August 11th. HSBC assumed coverage on Ermenegildo Zegna in a research report on Tuesday, October 6th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Morgan Stanley set a $13.00 target price on Ermenegildo Zegna in a research report on Monday, September 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.08.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. State of Wyoming grew its stake in shares of Ermenegildo Zegna by 141.2% in the 3rd quarter. State of Wyoming now owns 25,518 shares of the company’s stock worth $319,000 after buying an additional 14,939 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Ermenegildo Zegna by 216.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,740 shares of the company’s stock valued at $47,000 after purchasing an additional 2,560 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Ermenegildo Zegna in the 2nd quarter worth approximately $601,000. Wellington Management Group LLP purchased a new stake in Ermenegildo Zegna during the 2nd quarter valued at $1,890,000. Finally, Handelsbanken Fonder AB lifted its position in Ermenegildo Zegna by 21.9% in the second quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company’s stock worth $492,000 after buying an additional 6,800 shares during the last quarter. 12.91% of the stock is owned by hedge funds and other institutional investors.

About Ermenegildo Zegna

Ermenegildo Zegna N.V. is a global luxury-goods group specializing in menswear, accessories and related lifestyle products. Its portfolio includes the Zegna brand, known for tailored clothing, ready-to-wear apparel, footwear, leather goods and fabrics, as well as Thom Browne, a luxury fashion brand offering menswear, womenswear, accessories and footwear.

The company also operates the TOM FORD FASHION business, which includes luxury apparel, accessories and footwear under the TOM FORD brand.