Ermenegildo Zegna (NYSE:ZGN) Short Interest Update

Ermenegildo Zegna (NYSE:ZGN) saw a significant drop in short interest in December. As of December 31st, there was short interest totalling 1,590,000 shares, a drop of 13.6% from the December 15th total of 1,840,000 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 850,300 shares, the short-interest ratio is currently 1.9 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ZGN shares. Morgan Stanley started coverage on Ermenegildo Zegna in a report on Friday, November 22nd. They issued an “underweight” rating and a $7.20 price target on the stock. BNP Paribas upgraded Ermenegildo Zegna to a “hold” rating in a research report on Monday, December 2nd. Finally, Bank of America raised Ermenegildo Zegna from a “neutral” rating to a “buy” rating and dropped their price target for the company from $9.40 to $8.90 in a research note on Thursday.

Ermenegildo Zegna Stock Up 2.7 %

Shares of NYSE:ZGN traded up $0.22 during midday trading on Friday, hitting $8.34. The stock had a trading volume of 1,847,882 shares, compared to its average volume of 535,350. Ermenegildo Zegna has a 12 month low of $7.13 and a 12 month high of $15.26. The business’s 50-day simple moving average is $8.09 and its 200-day simple moving average is $9.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79.

Hedge Funds Weigh In On Ermenegildo Zegna

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Verition Fund Management LLC acquired a new position in shares of Ermenegildo Zegna in the third quarter valued at $149,000. XTX Topco Ltd acquired a new position in Ermenegildo Zegna in the 3rd quarter valued at about $215,000. Jane Street Group LLC acquired a new position in Ermenegildo Zegna in the 3rd quarter valued at about $222,000. SG Americas Securities LLC bought a new position in Ermenegildo Zegna in the 3rd quarter valued at about $330,000. Finally, PDT Partners LLC lifted its position 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 last quarter. Institutional investors own 12.91% of the company’s stock.

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.