Spectrum Strategic Capital Management LLC Increases Stake in Ermenegildo Zegna N.V. $ZGN

Spectrum Strategic Capital Management LLC raised its stake in shares of Ermenegildo Zegna N.V. (NYSE:ZGN) by 903.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 111,572 shares of the company’s stock after acquiring an additional 100,452 shares during the period. Spectrum Strategic Capital Management LLC’s holdings in Ermenegildo Zegna were worth $1,144,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ZGN. Matauro LLC acquired a new position in Ermenegildo Zegna during the 4th quarter worth approximately $2,099,000. Quantbot Technologies LP acquired a new position in Ermenegildo Zegna during the 3rd quarter worth approximately $1,076,000. Federated Hermes Inc. raised its position in shares of Ermenegildo Zegna by 38.3% in the 3rd quarter. Federated Hermes Inc. now owns 304,206 shares of the company’s stock valued at $2,875,000 after purchasing an additional 84,206 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Ermenegildo Zegna in the 3rd quarter valued at approximately $22,609,000. Finally, Temasek Holdings Private Ltd raised its position in shares of Ermenegildo Zegna by 114.5% in the 3rd quarter. Temasek Holdings Private Ltd now owns 27,242,276 shares of the company’s stock valued at $257,440,000 after purchasing an additional 14,542,295 shares in the last quarter. 12.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZGN has been the topic of a number of recent analyst reports. TD Cowen upped their target price on Ermenegildo Zegna from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Friday, May 1st. UBS Group reaffirmed a “buy” rating and issued a $14.50 target price on shares of Ermenegildo Zegna in a research report on Friday, May 1st. Morgan Stanley initiated coverage on Ermenegildo Zegna in a research report on Thursday, February 12th. They issued an “equal weight” rating and a $11.00 target price on the stock. Wall Street Zen raised Ermenegildo Zegna from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.26.

Ermenegildo Zegna Stock Down 0.0%

ZGN stock opened at $12.58 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91. Ermenegildo Zegna N.V. has a 12-month low of $7.61 and a 12-month high of $13.38. The stock’s 50 day simple moving average is $11.17 and its 200 day simple moving average is $10.66.

Ermenegildo Zegna (NYSE:ZGN) last posted its quarterly earnings results on Friday, March 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.11). The company had revenue of $577.83 million during the quarter, compared to analyst estimates of $1.17 billion. On average, equities research analysts expect that Ermenegildo Zegna N.V. will post 0.46 earnings per share for the current year.

Ermenegildo Zegna Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, July 29th. Investors of record on Monday, July 6th will be given a dividend of $0.12 per share. This represents a dividend yield of 99.0%. The ex-dividend date of this dividend is Monday, July 6th.

Insider Activity at Ermenegildo Zegna

In related news, CFO Gian Franco Santhia sold 5,768 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $13.12, for a total transaction of $75,676.16. Following the sale, the chief financial officer directly owned 44,448 shares of the company’s stock, valued at approximately $583,157.76. This represents a 11.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gianluca Ambrogio Tagliabue sold 19,105 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $13.12, for a total value of $250,657.60. Following the sale, the chief executive officer directly owned 167,720 shares in the company, valued at approximately $2,200,486.40. This represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 31,378 shares of company stock valued at $411,679. Corporate insiders own 1.20% of the company’s stock.

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.