Ermenegildo Zegna (NYSE:ZGN) Shares Gap Down to $13.94

Ermenegildo Zegna (NYSE:ZGN)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $13.94, but opened at $13.44. Ermenegildo Zegna shares last traded at $11.85, with a volume of 931,375 shares traded.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and raised their price target for the company from $17.00 to $18.70 in a research report on Thursday, January 11th.

Ermenegildo Zegna Stock Down 14.2 %

The business has a fifty day simple moving average of $13.81 and a two-hundred day simple moving average of $12.51.

Hedge Funds Weigh In On Ermenegildo Zegna

Several institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its position in shares of Ermenegildo Zegna by 111.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,135 shares of the company’s stock worth $40,000 after buying an additional 1,650 shares in the last quarter. UBS Group AG acquired a new position in Ermenegildo Zegna during the 4th quarter worth approximately $44,000. Point72 Asset Management L.P. purchased a new stake in shares of Ermenegildo Zegna in the 2nd quarter valued at approximately $71,000. Legal & General Group Plc raised its holdings in shares of Ermenegildo Zegna by 26.0% in the 4th quarter. Legal & General Group Plc now owns 5,980 shares of the company’s stock valued at $63,000 after purchasing an additional 1,235 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Ermenegildo Zegna by 25.4% in the 4th quarter. Amalgamated Bank now owns 7,964 shares of the company’s stock valued at $83,000 after purchasing an additional 1,612 shares in the last quarter. 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.