Tabor Asset Management LP Cuts Position in Ermenegildo Zegna N.V. $ZGN

Tabor Asset Management LP lowered its holdings in Ermenegildo Zegna N.V. (NYSE:ZGN) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 640,199 shares of the company’s stock after selling 59,173 shares during the period. Ermenegildo Zegna comprises about 3.6% of Tabor Asset Management LP’s portfolio, making the stock its 7th largest holding. Tabor Asset Management LP owned 0.16% of Ermenegildo Zegna worth $6,050,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Millennium Management LLC raised its holdings in Ermenegildo Zegna by 182.8% during the first quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock worth $8,503,000 after acquiring an additional 742,680 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Ermenegildo Zegna by 22.7% during the first quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company’s stock worth $995,000 after buying an additional 24,862 shares during the last quarter. Jane Street Group LLC bought a new stake in Ermenegildo Zegna during the first quarter worth $1,161,000. Envestnet Asset Management Inc. grew its position in shares of Ermenegildo Zegna by 5.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 136,326 shares of the company’s stock valued at $1,166,000 after acquiring an additional 6,698 shares during the period. Finally, Savant Capital LLC raised its holdings in shares of Ermenegildo Zegna by 36.0% in the 2nd quarter. Savant Capital LLC now owns 14,957 shares of the company’s stock valued at $128,000 after purchasing an additional 3,961 shares during the period. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZGN has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Wednesday, January 21st. Bank of America reiterated a “neutral” rating and issued a $11.20 price target (down from $11.50) on shares of Ermenegildo Zegna in a research note on Friday, January 16th. Sanford C. Bernstein started coverage on Ermenegildo Zegna in a research note on Tuesday, November 25th. They set an “outperform” rating and a $13.00 target price on the stock. UBS Group raised Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 price target for the company in a report on Thursday, February 5th. Finally, Morgan Stanley began coverage on Ermenegildo Zegna in a report on Thursday, February 12th. They set an “equal weight” rating and a $11.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.73.

Ermenegildo Zegna Stock Performance

Shares of ZGN stock opened at $10.40 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.79 and a current ratio of 1.42. Ermenegildo Zegna N.V. has a twelve month low of $6.05 and a twelve month high of $11.93. The stock’s fifty day simple moving average is $10.45 and its 200 day simple moving average is $10.04.

About Ermenegildo Zegna

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.