Tocqueville Asset Management L.P. Acquires Shares of 26,350 Ermenegildo Zegna (NYSE:ZGN)

Tocqueville Asset Management L.P. acquired a new stake in Ermenegildo Zegna (NYSE:ZGN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 26,350 shares of the company’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. QVIDTVM Management LLC bought a new position in shares of Ermenegildo Zegna during the 3rd quarter worth $2,908,000. Arizona PSPRS Trust bought a new position in shares of Ermenegildo Zegna during the 3rd quarter worth $979,000. American Assets Inc. bought a new position in shares of Ermenegildo Zegna during the 4th quarter worth $578,000. PDT Partners LLC grew its position in shares of Ermenegildo Zegna by 144.0% during the 3rd quarter. PDT Partners LLC now owns 55,549 shares of the company’s stock worth $547,000 after buying an additional 32,779 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Ermenegildo Zegna during the 3rd quarter worth $222,000. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Trading Up 0.1 %

Shares of NYSE ZGN opened at $7.35 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79. The stock has a market capitalization of $2.98 billion, a P/E ratio of 13.86 and a beta of 0.69. Ermenegildo Zegna has a 1-year low of $7.13 and a 1-year high of $15.26. The business has a fifty day moving average price of $8.42 and a 200 day moving average price of $8.44.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. TD Cowen assumed coverage on Ermenegildo Zegna in a research report on Tuesday, February 18th. They set a “hold” rating and a $10.00 price target on the stock. Morgan Stanley assumed coverage on Ermenegildo Zegna in a research note on Friday, November 22nd. They set an “underweight” rating and a $7.20 price objective for the company. Bank of America upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $9.40 to $8.90 in a research note on Thursday, January 16th. Finally, BNP Paribas upgraded Ermenegildo Zegna to a “hold” rating in a research note on Monday, December 2nd.

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.