Insider Selling: Ermenegildo Zegna (NYSE:ZGN) CFO Sells $75,676.16 in Stock

Ermenegildo Zegna N.V. (NYSE:ZGN) CFO Gian Franco Santhia sold 5,768 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $13.12, for a total value of $75,676.16. Following the completion of the sale, the chief financial officer owned 44,448 shares in the company, valued at $583,157.76. This trade represents a 11.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ermenegildo Zegna Trading Up 2.5%

NYSE:ZGN opened at $12.70 on Thursday. Ermenegildo Zegna N.V. has a 52-week low of $7.61 and a 52-week high of $13.38. The stock has a fifty day moving average of $11.10 and a 200 day moving average of $10.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91.

Ermenegildo Zegna (NYSE:ZGN) last released its quarterly earnings results on Friday, March 20th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.11). The business had revenue of $577.83 million during the quarter, compared to analysts’ expectations of $1.17 billion. On average, equities analysts forecast that Ermenegildo Zegna N.V. will post 0.46 EPS for the current fiscal year.

Ermenegildo Zegna Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, July 29th. Investors of record on Monday, July 6th will be paid a $0.12 dividend. This represents a yield of 99.0%. The ex-dividend date of this dividend is Monday, July 6th.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ZGN shares. TD Cowen boosted their price target on shares of Ermenegildo Zegna from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Bank of America reaffirmed a “neutral” rating and set a $11.20 price objective (down from $11.50) on shares of Ermenegildo Zegna in a report on Friday, January 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ermenegildo Zegna in a research report on Monday, April 20th. Wall Street Zen raised Ermenegildo Zegna from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley began coverage on Ermenegildo Zegna in a research report on Thursday, February 12th. They set an “equal weight” rating and a $11.00 price target on the stock. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.26.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC raised its stake in shares of Ermenegildo Zegna by 182.8% during the first quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock worth $8,503,000 after acquiring an additional 742,680 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Ermenegildo Zegna by 22.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company’s stock valued at $995,000 after purchasing an additional 24,862 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Ermenegildo Zegna during the 1st quarter valued at $1,161,000. Geode Capital Management LLC purchased a new position in Ermenegildo Zegna in the 2nd quarter worth $6,245,000. Finally, JPMorgan Chase & Co. raised its position in Ermenegildo Zegna by 59,691.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 29,298 shares of the company’s stock worth $250,000 after purchasing an additional 29,249 shares during the period. 12.91% of the stock is currently owned by institutional investors.

Ermenegildo Zegna Company Profile

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.