Ermenegildo Zegna (NYSE:ZGN) Short Interest Down 22.1% in November

Ermenegildo Zegna (NYSE:ZGN) was the target of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,620,000 shares, a decline of 22.1% from the October 31st total of 2,080,000 shares. Based on an average trading volume of 822,700 shares, the short-interest ratio is presently 2.0 days. Currently, 2.7% of the shares of the company are sold short.

Ermenegildo Zegna Stock Performance

Shares of Ermenegildo Zegna stock traded up $0.21 during mid-day trading on Friday, reaching $8.09. 436,018 shares of the stock traded hands, compared to its average volume of 603,953. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79. The business has a 50-day moving average of $8.14 and a 200 day moving average of $10.09. Ermenegildo Zegna has a fifty-two week low of $7.13 and a fifty-two week high of $15.26.

Institutional Trading of Ermenegildo Zegna

Large investors have recently bought and sold shares of the business. nVerses Capital LLC grew its holdings in Ermenegildo Zegna by 525.0% in the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $30,000 after buying an additional 2,100 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Ermenegildo Zegna during the 3rd quarter valued at about $149,000. XTX Topco Ltd purchased a new stake in shares of Ermenegildo Zegna in the third quarter valued at about $215,000. Jane Street Group LLC acquired a new stake in Ermenegildo Zegna during the third quarter worth about $222,000. Finally, SG Americas Securities LLC purchased a new position in Ermenegildo Zegna during the third quarter worth about $330,000. Hedge funds and other institutional investors own 12.91% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ZGN. Bank of America downgraded Ermenegildo Zegna from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $13.00 to $9.80 in a research note on Monday, September 23rd. Morgan Stanley assumed coverage on Ermenegildo Zegna in a research report on Friday, November 22nd. They issued an “underweight” rating and a $7.20 price objective on the stock.

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.