Ermenegildo Zegna (NYSE:ZGN) Short Interest Up 23.3% in March

by · The Cerbat Gem

Ermenegildo Zegna (NYSE:ZGN – Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,850,000 shares, an increase of 23.3% from the March 15th total of 1,500,000 shares. Currently, 3.3% of the company’s shares are sold short. Based on an average daily volume of 840,000 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of Ermenegildo Zegna during the 4th quarter valued at about $28,000. Handelsbanken Fonder AB boosted its position in shares of Ermenegildo Zegna by 26.0% in the first quarter. Handelsbanken Fonder AB now owns 37,800 shares of the company’s stock worth $280,000 after purchasing an additional 7,800 shares during the period. Entropy Technologies LP bought a new stake in Ermenegildo Zegna during the fourth quarter valued at about $84,000. Mirabella Financial Services LLP bought a new stake in Ermenegildo Zegna in the fourth quarter worth $87,000. Finally, Vident Advisory LLC bought a new position in Ermenegildo Zegna during the fourth quarter valued at $126,000. Institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Trading Up 0.8 %

Shares of NYSE:ZGN traded up $0.06 on Friday, hitting $6.92. The company had a trading volume of 619,157 shares, compared to its average volume of 657,164. Ermenegildo Zegna has a 1 year low of $6.05 and a 1 year high of $13.36. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 0.24. The firm’s 50-day simple moving average is $7.63 and its two-hundred day simple moving average is $8.04. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 13.05 and a beta of 0.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ZGN shares. Bank of America upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and lowered their price target for the company from $9.40 to $8.90 in a report on Thursday, January 16th. TD Cowen assumed coverage on shares of Ermenegildo Zegna in a report on Tuesday, February 18th. They set a “hold” rating and a $10.00 target price for the company.

View Our Latest Report on ZGN

Ermenegildo Zegna Company Profile

(Get Free Report)

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.

See Also