Shares of Ermenegildo Zegna (NYSE:ZGN – Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $7.77 and last traded at $7.82, with a volume of 26466 shares trading hands. The stock had previously closed at $7.94.
Wall Street Analysts Forecast Growth
Separately, Bank of America lowered Ermenegildo Zegna from a “buy” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $9.80 in a report on Monday, September 23rd.
View Our Latest Stock Analysis on Ermenegildo Zegna
Ermenegildo Zegna Trading Down 1.1 %
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. nVerses Capital LLC raised its holdings in shares of Ermenegildo Zegna by 525.0% during the second quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $30,000 after buying an additional 2,100 shares during the last quarter. SG Americas Securities LLC acquired a new position in Ermenegildo Zegna during the 3rd quarter worth $330,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ermenegildo Zegna in the first quarter worth $353,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Ermenegildo Zegna during the first quarter valued at $563,000. Finally, Quadrature Capital Ltd raised its stake in shares of Ermenegildo Zegna by 162.0% during the first quarter. Quadrature Capital Ltd now owns 101,067 shares of the company’s stock valued at $1,483,000 after purchasing an additional 62,488 shares in the last quarter. 12.91% of the stock is owned by institutional investors and hedge funds.
About Ermenegildo Zegna
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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