Massachusetts Financial Services Co. MA Reduces Position in Zumiez Inc. (NASDAQ:ZUMZ)

Massachusetts Financial Services Co. MA decreased its holdings in Zumiez Inc. (NASDAQ:ZUMZ) by 27.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 984,733 shares of the apparel and footwear maker’s stock after selling 374,679 shares during the period. Massachusetts Financial Services Co. MA owned approximately 5.14% of Zumiez worth $20,975,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ZUMZ. Signaturefd LLC increased its holdings in shares of Zumiez by 83.2% in the second quarter. Signaturefd LLC now owns 1,480 shares of the apparel and footwear maker’s stock valued at $29,000 after purchasing an additional 672 shares during the last quarter. CWM LLC increased its stake in shares of 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 acquiring an additional 1,902 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of Zumiez during the 2nd quarter worth $42,000. Ariadne Wealth Management LP acquired a new position in shares of Zumiez during the 2nd quarter valued at about $54,000. Finally, US Bancorp DE grew its holdings in shares of Zumiez by 67,262.5% in the third quarter. US Bancorp DE now owns 5,389 shares of the apparel and footwear maker’s stock valued at $115,000 after purchasing an additional 5,381 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley lifted their target price on shares of Zumiez from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th.

Insider Activity at Zumiez

In related news, Director Liliana Gil Valletta sold 3,283 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $21.85, for a total transaction of $71,733.55. Following the completion of the transaction, the director now directly owns 15,002 shares in the company, valued at $327,793.70. This trade represents a 17.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 20.30% of the stock is owned by insiders.

Zumiez Stock Up 2.3 %

Shares of Zumiez stock opened at $23.35 on Tuesday. The firm has a market cap of $446.92 million, a PE ratio of -8.49 and a beta of 1.24. Zumiez Inc. has a 52 week low of $12.90 and a 52 week high of $31.37. The business’s fifty day simple moving average is $21.85 and its 200-day simple moving average is $21.96.

Zumiez (NASDAQ:ZUMZ) last announced its 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. Zumiez had a negative net margin of 6.02% and a negative return on equity of 3.52%. The company had revenue of $210.18 million during the quarter, compared to analyst estimates of $201.93 million. During the same quarter last year, the firm posted ($0.44) earnings per share. Zumiez’s revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts expect that Zumiez Inc. will post 0.08 earnings per share for the current year.

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.