GAM Holding AG Lowers Stock Position in Ermenegildo Zegna (NYSE:ZGN)

GAM Holding AG cut its holdings in Ermenegildo Zegna (NYSE:ZGN) by 8.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 707,337 shares of the company’s stock after selling 68,400 shares during the quarter. GAM Holding AG owned approximately 0.17% of Ermenegildo Zegna worth $5,843,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Entropy Technologies LP bought a new stake in Ermenegildo Zegna during the fourth quarter worth about $84,000. Verition Fund Management LLC bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter worth approximately $149,000. XTX Topco Ltd bought a new stake in shares of Ermenegildo Zegna in the 3rd quarter worth approximately $215,000. Jane Street Group LLC purchased a new stake in shares of Ermenegildo Zegna in the 3rd quarter worth approximately $222,000. Finally, PDT Partners LLC increased its position in Ermenegildo Zegna by 144.0% during 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. 12.91% of the stock is currently owned by institutional investors.

Ermenegildo Zegna Price Performance

Shares of NYSE ZGN opened at $8.92 on Tuesday. Ermenegildo Zegna has a twelve month low of $7.13 and a twelve month high of $15.26. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41. The company has a 50 day moving average of $8.56 and a 200 day moving average of $8.79.

Wall Street Analysts Forecast Growth

Several research firms have commented on ZGN. Morgan Stanley assumed 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. BNP Paribas upgraded shares of Ermenegildo Zegna to a “hold” rating in a research note on Monday, December 2nd. Finally, Bank of America upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $9.40 to $8.90 in a research note on Thursday, January 16th.

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.