New York State Common Retirement Fund Sells 36,212 Shares of Ermenegildo Zegna (NYSE:ZGN)

New York State Common Retirement Fund decreased its holdings in shares of Ermenegildo Zegna (NYSE:ZGN) by 23.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 117,838 shares of the company’s stock after selling 36,212 shares during the period. New York State Common Retirement Fund’s holdings in Ermenegildo Zegna were worth $973,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Entropy Technologies LP bought a new stake in shares of Ermenegildo Zegna during the 4th quarter valued at $84,000. XTX Topco Ltd bought a new stake in shares of Ermenegildo Zegna during the 3rd quarter valued at $215,000. Jane Street Group LLC bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter valued at $222,000. Arizona PSPRS Trust bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter valued at $979,000. Finally, PDT Partners LLC increased its position in shares of Ermenegildo Zegna by 144.0% in the 3rd quarter. PDT Partners LLC now owns 55,549 shares of the company’s stock valued at $547,000 after buying an additional 32,779 shares in the last quarter. Institutional investors own 12.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Ermenegildo Zegna in a research report on Friday, November 22nd. They issued an “underweight” rating and a $7.20 price objective for the company. TD Cowen assumed coverage on shares of Ermenegildo Zegna in a research report on Tuesday, February 18th. They issued a “hold” rating and a $10.00 price objective for the company. Bank of America upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $9.40 to $8.90 in a research report on Thursday, January 16th. Finally, BNP Paribas upgraded shares of Ermenegildo Zegna to a “hold” rating in a research report on Monday, December 2nd.

Ermenegildo Zegna Price Performance

Shares of NYSE ZGN opened at $8.34 on Tuesday. The firm has a market cap of $3.38 billion, a PE ratio of 15.73 and a beta of 0.67. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. Ermenegildo Zegna has a 1-year low of $7.13 and a 1-year high of $15.26. The company has a fifty day moving average price of $8.58 and a 200 day moving average price of $8.67.

Ermenegildo Zegna 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.