QVIDTVM Management LLC Takes Position in Ermenegildo Zegna (NYSE:ZGN)

QVIDTVM Management LLC purchased a new stake in Ermenegildo Zegna (NYSE:ZGN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 295,562 shares of the company’s stock, valued at approximately $2,908,000. Ermenegildo Zegna makes up 2.0% of QVIDTVM Management LLC’s holdings, making the stock its 7th biggest holding. QVIDTVM Management LLC owned about 0.07% of Ermenegildo Zegna as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ZGN. nVerses Capital LLC increased its position in Ermenegildo Zegna by 525.0% during the second quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $30,000 after buying an additional 2,100 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Ermenegildo Zegna during the 3rd quarter valued at about $330,000. Armistice Capital LLC increased its holdings in shares of Ermenegildo Zegna by 547.4% during 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. Liontrust Investment Partners LLP bought a new position in shares of Ermenegildo Zegna in the 2nd quarter valued at approximately $2,960,000. Finally, Roubaix Capital LLC acquired a new stake in Ermenegildo Zegna in the 3rd quarter worth approximately $2,481,000. Institutional investors and hedge funds own 12.91% of the company’s stock.

Wall Street Analyst Weigh In

ZGN has been the topic of several analyst reports. Bank of America downgraded Ermenegildo Zegna from a “buy” rating to a “neutral” rating and lowered their price target for the company from $13.00 to $9.80 in a report on Monday, September 23rd. Morgan Stanley assumed coverage on shares of Ermenegildo Zegna in a research note on Friday. They issued an “underweight” rating and a $7.20 target price on the stock.

Ermenegildo Zegna Stock Performance

NYSE ZGN opened at $7.97 on Tuesday. The stock has a 50-day simple moving average of $8.22 and a 200 day simple moving average of $10.20. Ermenegildo Zegna has a twelve month low of $7.13 and a twelve month 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.