Zumiez Inc. (NASDAQ:ZUMZ) Shares Sold by Studio Investment Management LLC

Studio Investment Management LLC lowered its position in shares of Zumiez Inc. (NASDAQ:ZUMZ) by 55.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,626 shares of the apparel and footwear maker’s stock after selling 3,255 shares during the quarter. Studio Investment Management LLC’s holdings in Zumiez were worth $51,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ZUMZ. Signaturefd LLC boosted its position in Zumiez by 83.2% during the second quarter. Signaturefd LLC now owns 1,480 shares of the apparel and footwear maker’s stock worth $29,000 after acquiring an additional 672 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in Zumiez by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 42,116 shares of the apparel and footwear maker’s stock worth $820,000 after purchasing an additional 788 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Zumiez by 7.4% during the 2nd quarter. Rhumbline Advisers now owns 27,550 shares of the apparel and footwear maker’s stock worth $537,000 after purchasing an additional 1,898 shares during the last quarter. CWM LLC grew its position in shares of Zumiez by 2,090.1% in the second quarter. CWM LLC now owns 1,993 shares of the apparel and footwear maker’s stock valued at $39,000 after purchasing an additional 1,902 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Zumiez by 9.8% in the first quarter. Russell Investments Group Ltd. now owns 26,815 shares of the apparel and footwear maker’s stock valued at $407,000 after purchasing an additional 2,390 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Zumiez Stock Performance

ZUMZ opened at $22.89 on Thursday. Zumiez Inc. has a one year low of $12.90 and a one year high of $31.37. The stock has a market capitalization of $438.11 million, a PE ratio of -7.27 and a beta of 1.25. The business’s 50 day moving average price is $24.57 and its 200 day moving average price is $19.61.

Zumiez (NASDAQ:ZUMZ) last posted its earnings results on Thursday, September 5th. The apparel and footwear maker reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.29. The company had revenue of $210.18 million for the quarter, compared to the consensus estimate of $201.93 million. Zumiez had a negative return on equity of 3.52% and a negative net margin of 6.02%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.44) earnings per share. As a group, equities research analysts forecast that Zumiez Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ZUMZ. B. Riley boosted their price objective on Zumiez from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Jefferies Financial Group boosted their price target on shares of Zumiez from $14.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, June 7th.

About Zumiez

Zumiez Inc operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. The company provides hardgoods, including skateboards, snowboards, bindings, components, and other equipment. It operates stores in the United States, Canada, Europe, and Australia under the names of Zumiez, Blue Tomato, and Fast Times.