Ermenegildo Zegna (NYSE:ZGN) Trading Up 4.4%

Ermenegildo Zegna (NYSE:ZGN) was up 4.4% during mid-day trading on Wednesday . The stock traded as high as $11.62 and last traded at $11.51. Approximately 653,654 shares changed hands during mid-day trading, a decline of 5% from the average daily volume of 688,747 shares. The stock had previously closed at $11.02.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and upped their price objective for the company from $17.00 to $18.70 in a research note on Thursday, January 11th.

Ermenegildo Zegna Trading Up 4.0 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.76 and a current ratio of 1.27. The firm’s 50 day moving average is $13.67 and its 200-day moving average is $12.40.

Hedge Funds Weigh In On Ermenegildo Zegna

Several institutional investors and hedge funds have recently modified their holdings of ZGN. Invesco Ltd. purchased a new position in Ermenegildo Zegna during the first quarter worth approximately $59,749,000. Artisan Partners Limited Partnership raised its stake in Ermenegildo Zegna by 52.0% during the third quarter. Artisan Partners Limited Partnership now owns 3,935,129 shares of the company’s stock worth $54,777,000 after purchasing an additional 1,345,500 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Ermenegildo Zegna by 11.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,247,702 shares of the company’s stock worth $167,060,000 after purchasing an additional 1,219,215 shares during the period. Northern Right Capital Management L.P. purchased a new position in Ermenegildo Zegna during the fourth quarter worth approximately $7,311,000. Finally, Polar Asset Management Partners Inc. purchased a new position in Ermenegildo Zegna during the second quarter worth approximately $7,403,000. Hedge funds and other institutional investors own 12.91% of the company’s stock.

About Ermenegildo Zegna

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.