Armistice Capital LLC Has $2.83 Million Position in Ermenegildo Zegna (NYSE:ZGN)

Armistice Capital LLC lifted its holdings in shares of Ermenegildo Zegna (NYSE:ZGN) by 547.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 239,235 shares of the company’s stock after purchasing an additional 202,281 shares during the period. Armistice Capital LLC’s holdings in Ermenegildo Zegna were worth $2,833,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC grew its holdings in Ermenegildo Zegna by 525.0% during the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $30,000 after acquiring an additional 2,100 shares during the last quarter. Liontrust Investment Partners LLP bought a new position in shares of Ermenegildo Zegna in the second quarter worth about $2,960,000. Quadrature Capital Ltd lifted its position 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 worth $1,483,000 after purchasing an additional 62,488 shares in the last quarter. Capital World Investors grew its stake in shares of Ermenegildo Zegna by 34.6% during the first quarter. Capital World Investors now owns 5,195,013 shares of the company’s stock valued at $76,107,000 after purchasing an additional 1,335,945 shares during the last quarter. Finally, Capital Research Global Investors acquired a new stake in shares of Ermenegildo Zegna in the first quarter valued at approximately $54,202,000. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Ermenegildo Zegna Price Performance

Shares of ZGN stock opened at $9.27 on Friday. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.15 and a beta of 0.62. Ermenegildo Zegna has a 12 month low of $7.89 and a 12 month high of $15.26. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $10.16 and a 200 day moving average price of $11.70.

Analyst Upgrades and Downgrades

Separately, Bank of America downgraded Ermenegildo Zegna from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $13.00 to $9.80 in a report on Monday.

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.