Zumiez Inc. (NASDAQ:ZUMZ) Sees Large Drop in Short Interest

Zumiez Inc. (NASDAQ:ZUMZ) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 674,600 shares, a decrease of 31.5% from the August 15th total of 985,400 shares. Based on an average daily trading volume, of 303,800 shares, the short-interest ratio is presently 2.2 days. Currently, 4.4% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Zumiez Stock Up 5.4 %

ZUMZ stock opened at $24.48 on Friday. Zumiez has a 12 month low of $12.90 and a 12 month high of $31.37. The company has a market capitalization of $496.31 million, a price-to-earnings ratio of -7.77 and a beta of 1.25. The firm has a 50 day moving average of $24.76 and a two-hundred day moving average of $19.70.

Zumiez (NASDAQ:ZUMZ) last released its quarterly earnings results on Thursday, September 5th. The apparel and footwear maker reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.29. The business had revenue of $210.18 million for the quarter, compared to analysts’ expectations of $201.93 million. Zumiez had a negative net margin of 6.02% and a negative return on equity of 3.52%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.44) earnings per share. On average, research analysts expect that Zumiez will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Zumiez

Institutional investors have recently bought and sold shares of the company. Signaturefd LLC increased its position in Zumiez by 83.2% in the 2nd quarter. Signaturefd LLC now owns 1,480 shares of the apparel and footwear maker’s stock worth $29,000 after purchasing an additional 672 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in Zumiez by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 42,116 shares of the apparel and footwear maker’s stock valued at $820,000 after acquiring an additional 788 shares during the last quarter. Rhumbline Advisers increased its stake in Zumiez by 7.4% in the 2nd quarter. Rhumbline Advisers now owns 27,550 shares of the apparel and footwear maker’s stock valued at $537,000 after buying an additional 1,898 shares during the last quarter. CWM LLC boosted its holdings in Zumiez by 2,090.1% in the 2nd quarter. CWM LLC now owns 1,993 shares of the apparel and footwear maker’s stock worth $39,000 after buying an additional 1,902 shares during the period. Finally, ProShare Advisors LLC purchased a new position in Zumiez in the 2nd quarter worth $42,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Zumiez Company Profile

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.