Corient Private Wealth LLC Takes $449,000 Position in Ermenegildo Zegna N.V. $ZGN

Corient Private Wealth LLC bought a new position in Ermenegildo Zegna N.V. (NYSE:ZGN) during the second quarter, Holdings Channel.com reports. The fund bought 52,500 shares of the company’s stock, valued at approximately $449,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Temasek Holdings Private Ltd acquired a new position in Ermenegildo Zegna in the second quarter worth approximately $108,585,000. Millennium Management LLC grew its holdings in shares of Ermenegildo Zegna by 182.8% in the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock worth $8,503,000 after acquiring an additional 742,680 shares during the last quarter. Geode Capital Management LLC acquired a new stake in shares of Ermenegildo Zegna during the second quarter worth $6,245,000. QVIDTVM Management LLC lifted its holdings in shares of Ermenegildo Zegna by 2.6% during the second quarter. QVIDTVM Management LLC now owns 431,095 shares of the company’s stock valued at $3,686,000 after purchasing an additional 10,966 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Ermenegildo Zegna by 399.1% in the 1st quarter. Cubist Systematic Strategies LLC now owns 419,379 shares of the company’s stock valued at $3,103,000 after purchasing an additional 335,350 shares during the period. 12.91% of the stock is owned by institutional investors and hedge funds.

Ermenegildo Zegna Price Performance

Shares of ZGN opened at $10.46 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average price is $10.32 and its 200 day moving average price is $9.38. Ermenegildo Zegna N.V. has a 52 week low of $6.05 and a 52 week high of $11.00.

Analysts Set New Price Targets

ZGN has been the topic of several recent analyst reports. UBS Group boosted their price objective on Ermenegildo Zegna from $9.50 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Jefferies Financial Group started coverage on shares of Ermenegildo Zegna in a research report on Tuesday, October 14th. They issued a “buy” rating and a $12.90 price target for the company. Oddo Bhf set a $11.50 price objective on shares of Ermenegildo Zegna in a research note on Wednesday, September 17th. Bank of America boosted their target price on shares of Ermenegildo Zegna from $9.50 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. assumed coverage on Ermenegildo Zegna in a report on Monday, September 15th. They issued an “overweight” rating and a $11.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Ermenegildo Zegna presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.20.

About Ermenegildo Zegna

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.