145,159 Shares in Ermenegildo Zegna N.V. $ZGN Purchased by Wellington Management Group LLP

Wellington Management Group LLP acquired a new position in Ermenegildo Zegna N.V. (NYSE:ZGN) in the second quarter, Holdings Channel reports. The fund acquired 145,159 shares of the company’s stock, valued at approximately $1,890,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its stake in shares of Ermenegildo Zegna by 182.8% in the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock worth $8,503,000 after buying an additional 742,680 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Ermenegildo Zegna by 22.7% during the first quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company’s stock valued at $995,000 after acquiring an additional 24,862 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Ermenegildo Zegna during the first quarter valued at approximately $1,161,000. Geode Capital Management LLC bought a new stake in Ermenegildo Zegna during the second quarter worth $6,245,000. Finally, JPMorgan Chase & Co. lifted its holdings in Ermenegildo Zegna by 59,691.8% during the second quarter. JPMorgan Chase & Co. now owns 29,298 shares of the company’s stock worth $250,000 after acquiring an additional 29,249 shares during the period. Hedge funds and other institutional investors own 12.91% of the company’s stock.

Ermenegildo Zegna Stock Down 0.7%

Shares of NYSE ZGN opened at $11.62 on Friday. The stock has a fifty day simple moving average of $13.76 and a two-hundred day simple moving average of $12.74. Ermenegildo Zegna N.V. has a 1-year low of $8.64 and a 1-year high of $15.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.47 and a quick ratio of 0.80.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ZGN shares. The Goldman Sachs Group downgraded Ermenegildo Zegna from a “buy” rating to a “neutral” rating and upped their price objective for the company from $13.30 to $14.00 in a research note on Wednesday, June 17th. BNP Paribas Exane downgraded shares of Ermenegildo Zegna from a “neutral” rating to an “underperform” rating and set a $12.20 price target on the stock. in a report on Tuesday, August 11th. Morgan Stanley set a $13.00 price target on shares of Ermenegildo Zegna in a research report on Monday. JPMorgan Chase & Co. raised their price objective on shares of Ermenegildo Zegna from $12.50 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Finally, Wall Street Zen lowered shares of Ermenegildo Zegna from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Ermenegildo Zegna has a consensus rating of “Hold” and an average price target of $13.23.

About Ermenegildo Zegna

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.