CastleKnight Management LP Grows Stock Position in Ermenegildo Zegna (NYSE:ZGN)

CastleKnight Management LP lifted its stake in shares of Ermenegildo Zegna (NYSE:ZGN) by 49.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 158,700 shares of the company’s stock after buying an additional 52,505 shares during the quarter. CastleKnight Management LP’s holdings in Ermenegildo Zegna were worth $1,311,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ZGN. SBI Securities Co. Ltd. acquired a new stake in Ermenegildo Zegna in the fourth quarter valued at $28,000. Entropy Technologies LP purchased a new stake in Ermenegildo Zegna in the fourth quarter valued at $84,000. Mirabella Financial Services LLP acquired a new position in Ermenegildo Zegna in the fourth quarter valued at $87,000. Aquatic Capital Management LLC purchased a new position in shares of Ermenegildo Zegna during the fourth quarter worth about $144,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ermenegildo Zegna during the fourth quarter worth about $151,000. 12.91% of the stock is currently owned by hedge funds and other institutional investors.

Ermenegildo Zegna Trading Up 2.1 %

Shares of ZGN opened at $8.11 on Tuesday. The firm’s 50-day moving average is $7.38 and its two-hundred day moving average is $7.97. The firm has a market capitalization of $3.30 billion, a P/E ratio of 15.29 and a beta of 0.72. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 0.24. Ermenegildo Zegna has a twelve month low of $6.05 and a twelve month high of $13.36.

Analysts Set New Price Targets

A number of research firms recently issued reports on ZGN. Bank of America upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $9.40 to $8.90 in a research note on Thursday, January 16th. TD Cowen initiated coverage on shares of Ermenegildo Zegna in a research note on Tuesday, February 18th. They issued a “hold” rating and a $10.00 target price for the company.

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.