Ermenegildo Zegna (NYSE:ZGN – Get Free Report)’s share price shot up 4.4% during trading on Wednesday . The company traded as high as $11.62 and last traded at $11.51. 653,654 shares changed hands during trading, a decline of 5% from the average session volume of 688,747 shares. The stock had previously closed at $11.02.
Analyst Ratings Changes
Separately, The Goldman Sachs Group upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $17.00 to $18.70 in a research note on Thursday, January 11th.
Ermenegildo Zegna Trading Down 1.2 %
Institutional Investors Weigh In On Ermenegildo Zegna
Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers raised its holdings in Ermenegildo Zegna by 1.4% in the 1st quarter. Rhumbline Advisers now owns 79,123 shares of the company’s stock valued at $1,079,000 after acquiring an additional 1,116 shares during the period. Legal & General Group Plc raised its holdings in Ermenegildo Zegna by 26.0% in the 4th quarter. Legal & General Group Plc now owns 5,980 shares of the company’s stock valued at $63,000 after acquiring an additional 1,235 shares during the period. Tudor Investment Corp Et Al raised its holdings in Ermenegildo Zegna by 1.0% in the 3rd quarter. Tudor Investment Corp Et Al now owns 131,754 shares of the company’s stock valued at $1,834,000 after acquiring an additional 1,331 shares during the period. Alliancebernstein L.P. raised its holdings in Ermenegildo Zegna by 9.4% in the 4th quarter. Alliancebernstein L.P. now owns 18,700 shares of the company’s stock valued at $196,000 after acquiring an additional 1,600 shares during the period. Finally, Amalgamated Bank raised its holdings in Ermenegildo Zegna by 25.4% in the 4th quarter. Amalgamated Bank now owns 7,964 shares of the company’s stock valued at $83,000 after acquiring an additional 1,612 shares during the period. 12.91% of the stock is owned by institutional investors.
Ermenegildo Zegna Company Profile
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.
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