Short Interest in Zumiez Inc. (NASDAQ:ZUMZ) Drops By 16.9%

Zumiez Inc. (NASDAQ:ZUMZ) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 1,180,000 shares, a decline of 16.9% from the September 30th total of 1,420,000 shares. Currently, 7.8% of the shares of the company are sold short. Based on an average daily volume of 320,700 shares, the days-to-cover ratio is presently 3.7 days.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Zumiez

In other news, Director Liliana Gil Valletta sold 3,283 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $21.85, for a total transaction of $71,733.55. Following the transaction, the director now owns 15,002 shares in the company, valued at approximately $327,793.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 20.30% of the company’s stock.

Hedge Funds Weigh In On Zumiez

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position in 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 buying an additional 672 shares in the last quarter. CWM LLC boosted its position in 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 buying an additional 1,902 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of Zumiez during the second quarter worth approximately $42,000. Ariadne Wealth Management LP acquired a new position in shares of Zumiez during the second quarter worth approximately $54,000. Finally, US Bancorp DE lifted its position in shares of Zumiez by 67,262.5% during the third quarter. US Bancorp DE now owns 5,389 shares of the apparel and footwear maker’s stock worth $115,000 after purchasing an additional 5,381 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Zumiez Stock Up 0.8 %

NASDAQ ZUMZ opened at $21.78 on Tuesday. The stock has a market cap of $416.87 million, a P/E ratio of -7.92 and a beta of 1.23. The company’s 50-day simple moving average is $23.71 and its 200 day simple moving average is $21.23. Zumiez has a twelve month low of $12.90 and a twelve month high of $31.37.

Zumiez (NASDAQ:ZUMZ) last released its quarterly 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 firm had revenue of $210.18 million for the quarter, compared to analyst estimates of $201.93 million. Zumiez had a negative net margin of 6.02% and a negative return on equity of 3.52%. The company’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 business earned ($0.44) earnings per share. Research analysts anticipate that Zumiez will post 0.08 earnings per share for the current year.

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.