Ermenegildo Zegna N.V. (NYSE:ZGN) Short Interest Down 14.2% in March

Ermenegildo Zegna N.V. (NYSE:ZGN) saw a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 3,214,792 shares, a drop of 14.2% from the February 26th total of 3,746,493 shares. Based on an average daily volume of 737,379 shares, the short-interest ratio is presently 4.4 days. Currently, 0.8% of the company’s shares are short sold.

Analysts Set New Price Targets

ZGN has been the subject of several recent research reports. UBS Group raised shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and set a $11.50 price target for the company in a research note on Thursday, February 5th. Bank of America reiterated a “neutral” rating and issued a $11.20 price objective (down from $11.50) on shares of Ermenegildo Zegna in a report on Friday, January 16th. Morgan Stanley initiated coverage on Ermenegildo Zegna in a research note on Thursday, February 12th. They issued an “equal weight” rating and a $11.00 target price for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ermenegildo Zegna in a report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.73.

Ermenegildo Zegna Trading Up 4.5%

Ermenegildo Zegna stock traded up $0.44 during mid-day trading on Tuesday, reaching $10.29. 135,370 shares of the company traded hands, compared to its average volume of 757,100. The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.15. Ermenegildo Zegna has a 52-week low of $6.05 and a 52-week high of $11.93. The firm’s 50 day moving average price is $10.29 and its 200 day moving average price is $10.19.

Ermenegildo Zegna (NYSE:ZGN) last announced its earnings results on Friday, March 20th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The firm had revenue of $577.83 million for the quarter, compared to analysts’ expectations of $1.17 billion. On average, sell-side analysts anticipate that Ermenegildo Zegna will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Ermenegildo Zegna

Institutional investors and hedge funds have recently modified their holdings of the business. Temasek Holdings Private Ltd raised its position in Ermenegildo Zegna by 114.5% in the 3rd quarter. Temasek Holdings Private Ltd now owns 27,242,276 shares of the company’s stock worth $257,440,000 after buying an additional 14,542,295 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Ermenegildo Zegna in the third quarter worth approximately $22,609,000. Quantbot Technologies LP purchased a new position in shares of Ermenegildo Zegna during the third quarter valued at approximately $1,076,000. Federated Hermes Inc. raised its holdings in shares of Ermenegildo Zegna by 38.3% during the third quarter. Federated Hermes Inc. now owns 304,206 shares of the company’s stock valued at $2,875,000 after purchasing an additional 84,206 shares during the last quarter. Finally, Portolan Capital Management LLC lifted its position in Ermenegildo Zegna by 15.6% during the third quarter. Portolan Capital Management LLC now owns 1,369,176 shares of the company’s stock valued at $12,939,000 after purchasing an additional 185,190 shares during the period. Institutional investors own 12.91% of the company’s stock.

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.