XTX Topco Ltd Acquires New Stake in Ermenegildo Zegna (NYSE:ZGN)

XTX Topco Ltd acquired a new position in shares of Ermenegildo Zegna (NYSE:ZGN) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 21,873 shares of the company’s stock, valued at approximately $215,000.

Other hedge funds also recently made changes to their positions in the company. nVerses Capital LLC lifted its position in Ermenegildo Zegna by 525.0% in the second quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $30,000 after purchasing an additional 2,100 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Ermenegildo Zegna in the 3rd quarter valued at approximately $149,000. Jane Street Group LLC purchased a new stake in shares of Ermenegildo Zegna in the third quarter valued at approximately $222,000. SG Americas Securities LLC acquired a new position in Ermenegildo Zegna during the third quarter worth $330,000. Finally, PDT Partners LLC grew its holdings in Ermenegildo Zegna by 144.0% during the third quarter. PDT Partners LLC now owns 55,549 shares of the company’s stock worth $547,000 after acquiring an additional 32,779 shares during the period. Institutional investors and hedge funds own 12.91% of the company’s stock.

Ermenegildo Zegna Stock Performance

Shares of ZGN stock opened at $8.28 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41. Ermenegildo Zegna has a fifty-two week low of $7.13 and a fifty-two week high of $15.26. The business has a fifty day simple moving average of $8.01 and a 200-day simple moving average of $9.71.

Wall Street Analysts Forecast Growth

ZGN has been the topic of several research analyst reports. Morgan Stanley began coverage on shares of Ermenegildo Zegna in a research report on Friday, November 22nd. They set an “underweight” rating and a $7.20 target price on the stock. Bank of America downgraded shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $13.00 to $9.80 in a report on Monday, September 23rd. Finally, BNP Paribas raised shares of Ermenegildo Zegna to a “hold” rating in a report on Monday, December 2nd.

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.