Ermenegildo Zegna (NYSE:ZGN) Short Interest Down 13.6% in January

Ermenegildo Zegna (NYSE:ZGN) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 1,590,000 shares, a decline of 13.6% from the December 31st total of 1,840,000 shares. Based on an average daily trading volume, of 850,300 shares, the short-interest ratio is currently 1.9 days. Currently, 2.6% of the company’s shares are short sold.

Ermenegildo Zegna Stock Down 0.4 %

ZGN opened at $9.23 on Thursday. The company has a fifty day moving average price of $8.32 and a two-hundred day moving average price of $8.99. Ermenegildo Zegna has a 1-year low of $7.13 and a 1-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.

Analysts Set New Price Targets

ZGN has been the subject of a number of recent analyst reports. Morgan Stanley assumed coverage on Ermenegildo Zegna in a report on Friday, November 22nd. They set an “underweight” rating and a $7.20 price target for the company. BNP Paribas raised Ermenegildo Zegna to a “hold” rating in a research note on Monday, December 2nd. Finally, Bank of America upgraded Ermenegildo Zegna from a “neutral” rating to a “buy” rating and cut their price target for the stock from $9.40 to $8.90 in a report on Thursday, January 16th.

Institutional Trading of Ermenegildo Zegna

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Entropy Technologies LP bought a new position in Ermenegildo Zegna in the fourth quarter worth approximately $84,000. Verition Fund Management LLC bought a new position in shares of Ermenegildo Zegna in the 3rd quarter worth $149,000. XTX Topco Ltd bought a new position in shares of Ermenegildo Zegna in the 3rd quarter worth $215,000. Jane Street Group LLC acquired a new stake in Ermenegildo Zegna in the 3rd quarter valued at $222,000. Finally, PDT Partners LLC increased its stake in Ermenegildo Zegna by 144.0% during the 3rd quarter. PDT Partners LLC now owns 55,549 shares of the company’s stock valued at $547,000 after purchasing an additional 32,779 shares in the last quarter. 12.91% of the stock is owned by institutional investors.

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.