Moore Capital Management LP Makes New $413,000 Investment in Ermenegildo Zegna (NYSE:ZGN)

Moore Capital Management LP purchased a new stake in Ermenegildo Zegna (NYSE:ZGN) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 50,000 shares of the company’s stock, valued at approximately $413,000.

Other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Ermenegildo Zegna during the 4th quarter worth $28,000. Entropy Technologies LP acquired a new stake in shares of Ermenegildo Zegna during the 4th quarter worth $84,000. Mirabella Financial Services LLP acquired a new stake in shares of Ermenegildo Zegna during the 4th quarter worth $87,000. Aquatic Capital Management LLC acquired a new stake in shares of Ermenegildo Zegna during the 4th quarter worth $144,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ermenegildo Zegna during the 4th quarter worth $151,000. 12.91% of the stock is owned by hedge funds and other institutional investors.

Ermenegildo Zegna Stock Up 2.6%

Shares of Ermenegildo Zegna stock opened at $8.76 on Wednesday. The company has a fifty day moving average price of $7.38 and a 200 day moving average price of $7.98. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. Ermenegildo Zegna has a twelve month low of $6.05 and a twelve month high of $13.36. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 16.53 and a beta of 0.72.

Analyst Ratings Changes

A number of research firms have recently commented on ZGN. TD Cowen began coverage on Ermenegildo Zegna in a report on Tuesday, February 18th. They set a “hold” rating and a $10.00 price objective for the company. Bank of America upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $9.40 to $8.90 in a report on Thursday, January 16th.

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.