Shares of Ermenegildo Zegna (NYSE:ZGN – Get Free Report) saw unusually-high trading volume on Friday . Approximately 1,939,416 shares changed hands during trading, an increase of 265% from the previous session’s volume of 530,624 shares.The stock last traded at $9.80 and had previously closed at $9.27.
Wall Street Analyst Weigh In
Separately, Bank of America lowered 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 research note on Monday.
Check Out Our Latest Stock Report on Ermenegildo Zegna
Ermenegildo Zegna Trading Up 5.6 %
Institutional Investors Weigh In On Ermenegildo Zegna
Institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC raised its stake in shares of 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 acquiring an additional 2,100 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ermenegildo Zegna in the 1st quarter valued at $353,000. Quadrature Capital Ltd grew its holdings in shares of Ermenegildo Zegna by 49.7% in the 4th quarter. Quadrature Capital Ltd now owns 38,579 shares of the company’s stock valued at $446,000 after buying an additional 12,805 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Ermenegildo Zegna in the 1st quarter valued at $563,000. Finally, Armistice Capital LLC grew its holdings in shares of Ermenegildo Zegna by 547.4% in the 2nd quarter. Armistice Capital LLC now owns 239,235 shares of the company’s stock valued at $2,833,000 after buying an additional 202,281 shares during the period. 12.91% of the stock is owned by institutional investors and hedge funds.
About Ermenegildo Zegna
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.
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