SBI Securities Co. Ltd. Acquires New Holdings in Ermenegildo Zegna (NYSE:ZGN)

SBI Securities Co. Ltd. acquired a new stake in Ermenegildo Zegna (NYSE:ZGN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,400 shares of the company’s stock, valued at approximately $28,000.

Other institutional investors have also made changes to their positions in the company. Entropy Technologies LP bought a new position in shares of Ermenegildo Zegna in the 4th quarter valued at approximately $84,000. Verition Fund Management LLC acquired a new stake in Ermenegildo Zegna in the 3rd quarter valued at approximately $149,000. XTX Topco Ltd acquired a new stake in Ermenegildo Zegna in the 3rd quarter valued at approximately $215,000. Jane Street Group LLC acquired a new stake in Ermenegildo Zegna in the 3rd quarter valued at approximately $222,000. Finally, PDT Partners LLC grew its holdings in 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 during the last quarter. 12.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Ermenegildo Zegna Price Performance

Shares of NYSE:ZGN opened at $7.40 on Thursday. Ermenegildo Zegna has a 1-year low of $7.13 and a 1-year high of $15.26. The firm has a market capitalization of $3.00 billion, a PE ratio of 13.95 and a beta of 0.69. The business’s 50 day moving average is $8.49 and its 200-day moving average is $8.56. 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 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.