Alpine Investment Management Ltd Acquires New Position in Ermenegildo Zegna (NYSE:ZGN)

Alpine Investment Management Ltd bought a new position in Ermenegildo Zegna (NYSE:ZGN) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 859,583 shares of the company’s stock, valued at approximately $7,100,000. Ermenegildo Zegna comprises approximately 2.0% of Alpine Investment Management Ltd’s holdings, making the stock its 7th largest holding. Alpine Investment Management Ltd owned approximately 0.21% of Ermenegildo Zegna as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ExodusPoint Capital Management LP purchased a new stake in Ermenegildo Zegna during the 4th quarter valued at $1,907,000. American Assets Inc. bought a new position in shares of Ermenegildo Zegna during the fourth quarter valued at $578,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Ermenegildo Zegna during the fourth quarter valued at $510,000. Fox Run Management L.L.C. bought a new stake in Ermenegildo Zegna in the 4th quarter worth about $372,000. Finally, Tocqueville Asset Management L.P. purchased a new position in Ermenegildo Zegna in the 4th quarter worth about $218,000. Hedge funds and other institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Price Performance

NYSE ZGN opened at $6.62 on Friday. 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 has a market capitalization of $2.68 billion, a P/E ratio of 12.49 and a beta of 0.69. The company has a 50-day moving average price of $8.19 and a 200-day moving average price of $8.23. Ermenegildo Zegna has a 52 week low of $6.13 and a 52 week high of $13.44.

Wall Street Analyst Weigh In

ZGN has been the subject of a number of research analyst reports. Bank of America upgraded shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $9.40 to $8.90 in a research note on Thursday, January 16th. TD Cowen started coverage on shares of Ermenegildo Zegna in a research report on Tuesday, February 18th. They issued a “hold” rating and a $10.00 target price for the company.

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.