PDT Partners LLC Acquires 32,779 Shares of Ermenegildo Zegna (NYSE:ZGN)

PDT Partners LLC grew its holdings in Ermenegildo Zegna (NYSE:ZGN) by 144.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,549 shares of the company’s stock after acquiring an additional 32,779 shares during the period. PDT Partners LLC’s holdings in Ermenegildo Zegna were worth $547,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ZGN. nVerses Capital LLC boosted its stake in Ermenegildo Zegna by 525.0% in the 2nd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $30,000 after purchasing an additional 2,100 shares during the period. Verition Fund Management LLC bought a new position in shares of Ermenegildo Zegna during the third quarter worth $149,000. SG Americas Securities LLC bought a new position in shares of Ermenegildo Zegna during the third quarter worth $330,000. Armistice Capital LLC increased its holdings in Ermenegildo Zegna by 547.4% in the 2nd quarter. Armistice Capital LLC now owns 239,235 shares of the company’s stock valued at $2,833,000 after acquiring an additional 202,281 shares during the last quarter. Finally, Liontrust Investment Partners LLP purchased a new stake in Ermenegildo Zegna in the 2nd quarter worth $2,960,000. Institutional investors own 12.91% of the company’s stock.

Wall Street Analysts Forecast Growth

ZGN has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on Ermenegildo Zegna in a research report on Friday, November 22nd. They set an “underweight” rating and a $7.20 price objective for the company. Bank of America downgraded Ermenegildo Zegna from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $13.00 to $9.80 in a research note on Monday, September 23rd.

Ermenegildo Zegna Price Performance

Shares of NYSE:ZGN opened at $8.20 on Tuesday. The firm has a fifty day simple moving average of $8.14 and a two-hundred day simple moving average of $10.07. Ermenegildo Zegna has a 52 week low of $7.13 and a 52 week high of $15.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.79.

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.