Tabor Asset Management LP Sells 407,105 Shares of Ermenegildo Zegna (NYSE:ZGN)

Tabor Asset Management LP lessened its holdings in Ermenegildo Zegna (NYSE:ZGN) by 66.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 207,713 shares of the company’s stock after selling 407,105 shares during the period. Tabor Asset Management LP’s holdings in Ermenegildo Zegna were worth $2,044,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ZGN. Liontrust Investment Partners LLP bought a new position in Ermenegildo Zegna in the 2nd quarter valued at approximately $2,960,000. Roubaix Capital LLC acquired a new position in Ermenegildo Zegna in the 3rd quarter worth about $2,481,000. Public Investment Fund increased its holdings in Ermenegildo Zegna by 25.9% in the 2nd quarter. Public Investment Fund now owns 3,710,196 shares of the company’s stock worth $43,929,000 after purchasing an additional 764,122 shares in the last quarter. Armistice Capital LLC raised its position in Ermenegildo Zegna by 547.4% in the second quarter. Armistice Capital LLC now owns 239,235 shares of the company’s stock valued at $2,833,000 after purchasing an additional 202,281 shares during the last quarter. Finally, QVIDTVM Management LLC acquired a new stake in shares of Ermenegildo Zegna during the third quarter valued at about $2,908,000. Institutional investors and hedge funds own 12.91% of the company’s stock.

Ermenegildo Zegna Stock Performance

NYSE ZGN opened at $8.25 on Friday. Ermenegildo Zegna has a one year low of $7.13 and a one year high of $15.26. 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 business has a 50 day simple moving average of $8.12 and a 200 day simple moving average of $9.98.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ZGN shares. BNP Paribas upgraded shares of Ermenegildo Zegna to a “hold” rating in a report on Monday. Morgan Stanley started coverage on shares of Ermenegildo Zegna in a research note on Friday, November 22nd. They set an “underweight” rating and a $7.20 price target for the company. Finally, Bank of America downgraded Ermenegildo Zegna from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $13.00 to $9.80 in a report on Monday, September 23rd.

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.