Artisan Partners Limited Partnership Sells 806,660 Shares of Ermenegildo Zegna (NYSE:ZGN)

Artisan Partners Limited Partnership reduced its holdings in Ermenegildo Zegna (NYSE:ZGN) by 23.0% in the fourth quarter, HoldingsChannel reports. The firm owned 2,703,178 shares of the company’s stock after selling 806,660 shares during the period. Artisan Partners Limited Partnership’s holdings in Ermenegildo Zegna were worth $22,328,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ZGN. Arizona PSPRS Trust acquired a new stake in shares of Ermenegildo Zegna during the 3rd quarter worth approximately $979,000. American Assets Inc. bought a new position in Ermenegildo Zegna during the fourth quarter worth $578,000. PDT Partners LLC grew its holdings in Ermenegildo Zegna by 144.0% in the third quarter. PDT Partners LLC now owns 55,549 shares of the company’s stock worth $547,000 after purchasing an additional 32,779 shares during the period. Fox Run Management L.L.C. bought a new stake in Ermenegildo Zegna in the fourth quarter valued at $372,000. Finally, Tocqueville Asset Management L.P. bought a new stake in Ermenegildo Zegna in the fourth quarter valued at $218,000. 12.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ZGN has been the subject of several research reports. Bank of America upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and reduced their target price for the company from $9.40 to $8.90 in a research note on Thursday, January 16th. BNP Paribas upgraded Ermenegildo Zegna to a “hold” rating in a report on Monday, December 2nd. Finally, TD Cowen began coverage on Ermenegildo Zegna in a report on Tuesday, February 18th. They set a “hold” rating and a $10.00 price objective for the company.

Ermenegildo Zegna Stock Down 0.6 %

Shares of NYSE ZGN opened at $7.72 on Friday. 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 company has a 50-day moving average price of $8.36 and a 200-day moving average price of $8.33. The stock has a market capitalization of $3.13 billion, a P/E ratio of 14.56 and a beta of 0.69. Ermenegildo Zegna has a 1 year low of $7.07 and a 1 year high of $14.73.

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.