Ermenegildo Zegna (NYSE:ZGN) Sees Strong Trading Volume – Still a Buy?

Shares of Ermenegildo Zegna N.V. (NYSE:ZGN) saw an uptick in trading volume on Thursday. Approximately 1,209,314 shares were traded during mid-day trading, an increase of 22% from the average daily volume of 988,648 shares. The stock last traded at $13.5680 and had previously closed at $14.88.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Royal Bank Of Canada started coverage on shares of Ermenegildo Zegna in a research report on Tuesday, October 27th. They set an “outperform” rating and a $16.00 price objective for the company. BNP Paribas Exane downgraded shares of Ermenegildo Zegna from a “neutral” rating to an “underperform” rating and set a $12.20 target price on the stock. in a report on Tuesday, August 11th. UBS Group decreased their target price 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. Wall Street Zen downgraded shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Morgan Stanley set a $13.00 price target on Ermenegildo Zegna in a research report on Monday, September 7th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.08.

Ermenegildo Zegna Stock Up 0.9%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 1.47. The firm’s 50 day simple moving average is $12.82 and its 200 day simple moving average is $12.48.

Insider Buying and Selling

In related news, Director Michele Norsa sold 8,000 shares of the stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $13.29, for a total value of $106,320.00. Following the sale, the director directly owned 158,348 shares of the company’s stock, valued at $2,104,444.92. This represents a 4.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ZGN. State of Wyoming grew its position in Ermenegildo Zegna by 141.2% in the 3rd quarter. State of Wyoming now owns 25,518 shares of the company’s stock valued at $319,000 after acquiring an additional 14,939 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Ermenegildo Zegna by 216.9% during the third 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 period. Engineers Gate Manager LP purchased a new stake in shares of Ermenegildo Zegna during the second quarter valued at $601,000. Wellington Management Group LLP purchased a new stake in shares of Ermenegildo Zegna during the second quarter valued at $1,890,000. Finally, Handelsbanken Fonder AB increased its stake in Ermenegildo Zegna by 21.9% in the 2nd 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 period. Hedge funds and other institutional investors own 12.91% of the company’s stock.

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.