Lombard Odier Asset Management USA Corp Purchases Shares of 115,000 Ermenegildo Zegna N.V. $ZGN

Lombard Odier Asset Management USA Corp purchased a new stake in shares of Ermenegildo Zegna N.V. (NYSE:ZGN) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 115,000 shares of the company’s stock, valued at approximately $1,198,000.

Several other large investors have also made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Ermenegildo Zegna by 74.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,177,804 shares of the company’s stock worth $42,822,000 after acquiring an additional 1,785,266 shares during the period. Millennium Management LLC raised its stake in Ermenegildo Zegna by 73.7% during the 4th quarter. Millennium Management LLC now owns 1,188,887 shares of the company’s stock valued at $12,186,000 after purchasing an additional 504,546 shares during the period. Osborne Partners Capital Management LLC lifted its holdings in Ermenegildo Zegna by 34.8% in the 1st quarter. Osborne Partners Capital Management LLC now owns 942,458 shares of the company’s stock worth $9,820,000 after purchasing an additional 243,137 shares in the last quarter. State Street Corp lifted its holdings in Ermenegildo Zegna by 3.2% in the 4th quarter. State Street Corp now owns 878,867 shares of the company’s stock worth $9,014,000 after purchasing an additional 27,336 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Ermenegildo Zegna by 8.0% in the 4th quarter. UBS Group AG now owns 835,467 shares of the company’s stock worth $8,564,000 after purchasing an additional 62,014 shares in the last quarter. 12.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ZGN has been the subject of a number of research analyst reports. TD Cowen increased their price objective on shares of Ermenegildo Zegna from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Wall Street Zen lowered shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. The Goldman Sachs Group lowered shares of Ermenegildo Zegna from a “buy” rating to a “neutral” rating and upped their target price for the stock from $13.30 to $14.00 in a research report on Wednesday, June 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a research note on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.23.

Insider Buying and Selling

In other Ermenegildo Zegna news, CEO Gianluca Ambrogio Tagliabue sold 19,105 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $13.12, for a total transaction of $250,657.60. Following the completion of the transaction, the chief executive officer owned 167,720 shares in the company, valued at $2,200,486.40. This trade represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Alessandro Sartori sold 6,505 shares of Ermenegildo Zegna stock in a transaction on Friday, May 8th. The stock was sold at an average price of $13.12, for a total transaction of $85,345.60. Following the completion of the transaction, the director directly owned 142,237 shares of the company’s stock, valued at $1,866,149.44. The trade was a 4.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 31,378 shares of company stock worth $411,679. Insiders own 1.20% of the company’s stock.

Ermenegildo Zegna Trading Up 3.7%

NYSE:ZGN opened at $14.32 on Friday. Ermenegildo Zegna N.V. has a 1 year low of $7.61 and a 1 year high of $15.44. The stock’s 50 day simple moving average is $13.82 and its two-hundred day simple moving average is $11.88. The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.15.

Ermenegildo Zegna Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, July 29th. Investors of record on Monday, July 6th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a dividend yield of 102.0%.

Ermenegildo Zegna Profile

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.