GAM Holding AG Has $7.63 Million Stake in Ermenegildo Zegna (NYSE:ZGN)

GAM Holding AG trimmed its holdings in Ermenegildo Zegna (NYSE:ZGN) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 775,737 shares of the company’s stock after selling 30,763 shares during the period. GAM Holding AG owned about 0.19% of Ermenegildo Zegna worth $7,633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Ermenegildo Zegna in the third quarter valued at about $330,000. Public Investment Fund lifted its holdings in shares of Ermenegildo Zegna by 25.9% in the second quarter. Public Investment Fund now owns 3,710,196 shares of the company’s stock valued at $43,929,000 after purchasing an additional 764,122 shares in the last quarter. Armistice Capital LLC lifted its holdings in shares of Ermenegildo Zegna by 547.4% in the second quarter. Armistice Capital LLC now owns 239,235 shares of the company’s stock valued at $2,833,000 after purchasing an additional 202,281 shares in the last quarter. nVerses Capital LLC lifted its holdings in shares of Ermenegildo Zegna by 525.0% in the second quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $30,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Liontrust Investment Partners LLP bought a new stake in shares of Ermenegildo Zegna in the second quarter valued at about $2,960,000. 12.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Bank of America lowered Ermenegildo Zegna from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $13.00 to $9.80 in a report on Monday, September 23rd.

Ermenegildo Zegna Stock Performance

ZGN opened at $8.00 on Wednesday. Ermenegildo Zegna has a 52-week low of $7.89 and a 52-week high of $15.26. The firm has a market capitalization of $3.24 billion, a PE ratio of 16.33, a PEG ratio of 2.54 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.79 and a current ratio of 1.41. The business’s 50-day simple moving average is $9.43 and its 200 day simple moving average is $10.94.

Ermenegildo Zegna Company Profile

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.