Alpine Investment Management Ltd Purchases Shares of 859,583 Ermenegildo Zegna (NYSE:ZGN)

Alpine Investment Management Ltd acquired a new stake in shares of Ermenegildo Zegna (NYSE:ZGN) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 859,583 shares of the company’s stock, valued at approximately $7,100,000. Ermenegildo Zegna makes up about 2.0% of Alpine Investment Management Ltd’s holdings, making the stock its 7th largest position.

A number of other hedge funds also recently made changes to their positions in ZGN. ExodusPoint Capital Management LP purchased a new position in Ermenegildo Zegna during the fourth quarter valued at approximately $1,907,000. American Assets Inc. purchased a new position in shares of Ermenegildo Zegna during the 4th quarter valued at $578,000. Landscape Capital Management L.L.C. bought a new position in Ermenegildo Zegna in the 4th quarter worth $510,000. Fox Run Management L.L.C. bought a new stake in Ermenegildo Zegna during the fourth quarter valued at about $372,000. Finally, Tocqueville Asset Management L.P. purchased a new position in shares of Ermenegildo Zegna in the fourth quarter valued at about $218,000. 12.91% of the stock is currently owned by institutional investors.

Ermenegildo Zegna Stock Performance

NYSE ZGN opened at $6.62 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79. Ermenegildo Zegna has a 1-year low of $6.13 and a 1-year high of $13.44. The business has a 50 day simple moving average of $8.19 and a two-hundred day simple moving average of $8.23. The stock has a market capitalization of $2.68 billion, a PE ratio of 12.49 and a beta of 0.69.

Analyst Ratings Changes

Several brokerages recently issued reports on ZGN. TD Cowen began coverage on Ermenegildo Zegna in a research note on Tuesday, February 18th. They set a “hold” rating and a $10.00 target price on the stock. Bank of America raised shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $9.40 to $8.90 in a report on Thursday, January 16th.

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.