Ermenegildo Zegna (NYSE:ZGN) Sees Strong Trading Volume – Should You Buy?

Shares of Ermenegildo Zegna (NYSE:ZGN) saw an uptick in trading volume on Thursday . 323,433 shares traded hands during mid-day trading, a decline of 45% from the previous session’s volume of 587,996 shares.The stock last traded at $8.02 and had previously closed at $7.69.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ZGN. BNP Paribas raised Ermenegildo Zegna to a “hold” rating in a research note on Monday, December 2nd. Bank of America upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating in a research report on Thursday. Finally, Morgan Stanley started coverage on shares of Ermenegildo Zegna in a report on Friday, November 22nd. They issued an “underweight” rating and a $7.20 target price on the stock.

Ermenegildo Zegna Stock Performance

The stock has a fifty day moving average of $8.05 and a 200-day moving average of $9.17. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24.

Institutional Trading of Ermenegildo Zegna

Institutional investors and hedge funds have recently bought and sold shares of the stock. Roubaix Capital LLC purchased a new position in Ermenegildo Zegna during the 3rd quarter worth approximately $2,481,000. Public Investment Fund lifted its stake in Ermenegildo Zegna by 25.9% in the 2nd quarter. Public Investment Fund now owns 3,710,196 shares of the company’s stock worth $43,929,000 after acquiring an additional 764,122 shares in the last quarter. Armistice Capital LLC boosted its position in Ermenegildo Zegna by 547.4% during the 2nd quarter. Armistice Capital LLC now owns 239,235 shares of the company’s stock worth $2,833,000 after acquiring an additional 202,281 shares during the period. QVIDTVM Management LLC purchased a new position in Ermenegildo Zegna during the 3rd quarter valued at about $2,908,000. Finally, Jane Street Group LLC acquired a new position in shares of Ermenegildo Zegna in the 3rd quarter valued at about $222,000. Institutional investors and hedge funds own 12.91% of the company’s stock.

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.