Sei Investments Co. Cuts Position in Ermenegildo Zegna (NYSE:ZGN)

Sei Investments Co. decreased its stake in Ermenegildo Zegna (NYSE:ZGN) by 10.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,656 shares of the company’s stock after selling 5,876 shares during the period. Sei Investments Co.’s holdings in Ermenegildo Zegna were worth $612,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC lifted its position in shares of Ermenegildo Zegna by 525.0% during the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $30,000 after acquiring an additional 2,100 shares during the period. Quadrature Capital Ltd raised its holdings in Ermenegildo Zegna by 49.7% during the fourth quarter. Quadrature Capital Ltd now owns 38,579 shares of the company’s stock worth $446,000 after purchasing an additional 12,805 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Ermenegildo Zegna during the first quarter worth $353,000. Susquehanna Fundamental Investments LLC acquired a new stake in Ermenegildo Zegna in the first quarter valued at $563,000. Finally, Public Investment Fund increased its position in shares of Ermenegildo Zegna by 3.1% in the fourth quarter. Public Investment Fund now owns 2,228,738 shares of the company’s stock valued at $25,786,000 after buying an additional 66,371 shares in the last quarter. Hedge funds and other institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Trading Down 0.3 %

Shares of Ermenegildo Zegna stock opened at $8.87 on Wednesday. Ermenegildo Zegna has a 1 year low of $7.89 and a 1 year high of $15.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79. The business has a 50 day moving average price of $9.91 and a 200 day moving average price of $11.38. The company has a market capitalization of $3.59 billion, a P/E ratio of 16.74, a P/E/G ratio of 2.15 and a beta of 0.61.

Analyst Ratings Changes

Separately, Bank of America lowered shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $13.00 to $9.80 in a research report on Monday, September 23rd.

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.