Walleye Capital LLC Purchases 633,191 Shares of Ermenegildo Zegna N.V. $ZGN

Walleye Capital LLC raised its position in Ermenegildo Zegna N.V. (NYSE:ZGN) by 1,938.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 665,851 shares of the company’s stock after purchasing an additional 633,191 shares during the quarter. Walleye Capital LLC’s holdings in Ermenegildo Zegna were worth $6,938,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Ermenegildo Zegna by 74.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,177,804 shares of the company’s stock worth $42,822,000 after buying an additional 1,785,266 shares during the last quarter. Millennium Management LLC raised its stake in shares of Ermenegildo Zegna by 73.7% in the fourth quarter. Millennium Management LLC now owns 1,188,887 shares of the company’s stock valued at $12,186,000 after acquiring an additional 504,546 shares during the last quarter. Osborne Partners Capital Management LLC raised its stake in shares of Ermenegildo Zegna by 34.8% in the first quarter. Osborne Partners Capital Management LLC now owns 942,458 shares of the company’s stock valued at $9,820,000 after acquiring an additional 243,137 shares during the last quarter. State Street Corp boosted its holdings in shares of Ermenegildo Zegna by 3.2% in the 4th quarter. State Street Corp now owns 878,867 shares of the company’s stock worth $9,014,000 after acquiring an additional 27,336 shares in the last quarter. Finally, UBS Group AG boosted its holdings in shares of Ermenegildo Zegna by 8.0% in the 4th quarter. UBS Group AG now owns 835,467 shares of the company’s stock worth $8,564,000 after acquiring an additional 62,014 shares in the last quarter. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Ermenegildo Zegna Price Performance

Shares of ZGN stock opened at $13.85 on Thursday. Ermenegildo Zegna N.V. has a 1 year low of $7.61 and a 1 year high of $15.44. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is $13.76 and its 200-day moving average is $11.84.

Ermenegildo Zegna Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Monday, July 6th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a yield of 102.0%.

Analysts Set New Price Targets

A number of research firms recently commented on ZGN. UBS Group restated a “buy” rating and set a $14.50 price target on shares of Ermenegildo Zegna in a research report on Friday, May 1st. The Goldman Sachs Group lowered Ermenegildo Zegna from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $13.30 to $14.00 in a research note on Wednesday, June 17th. TD Cowen upgraded Ermenegildo Zegna from a “hold” rating to a “buy” rating and increased their target price for the stock from $13.00 to $15.00 in a report on Wednesday, May 20th. JPMorgan Chase & Co. raised their target price on Ermenegildo Zegna from $12.50 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. Finally, Wall Street Zen cut Ermenegildo Zegna from a “buy” rating to a “hold” rating in a report on Monday. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.01.

Insiders Place Their Bets

In other news, CEO Gianluca Ambrogio Tagliabue sold 19,105 shares of Ermenegildo Zegna stock in a transaction on Friday, May 8th. The stock was sold at an average price of $13.12, for a total value of $250,657.60. Following the completion of the sale, the chief executive officer directly owned 167,720 shares of the company’s stock, valued at approximately $2,200,486.40. This trade represents a 10.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gian Franco Santhia sold 5,768 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $13.12, for a total value of $75,676.16. Following the sale, the chief financial officer owned 44,448 shares of the company’s stock, valued at approximately $583,157.76. The trade was a 11.49% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 31,378 shares of company stock valued at $411,679. 1.20% of the stock is currently owned by corporate insiders.

Ermenegildo Zegna Company Profile

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.