Empowered Funds LLC Cuts Stock Holdings in Zumiez Inc. (NASDAQ:ZUMZ)

Empowered Funds LLC reduced its position in shares of Zumiez Inc. (NASDAQ:ZUMZ) by 54.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,837 shares of the apparel and footwear maker’s stock after selling 43,024 shares during the period. Empowered Funds LLC’s holdings in Zumiez were worth $763,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Signaturefd LLC increased its stake in Zumiez by 83.2% during the 2nd quarter. Signaturefd LLC now owns 1,480 shares of the apparel and footwear maker’s stock worth $29,000 after buying an additional 672 shares in 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. ProShare Advisors LLC purchased a new stake in shares of Zumiez in the second quarter valued at approximately $42,000. Ariadne Wealth Management LP purchased a new stake in shares of Zumiez in the second quarter valued at approximately $54,000. Finally, US Bancorp DE grew its position 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 in the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zumiez

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

Analysts Set New Price Targets

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

Zumiez Price Performance

ZUMZ stock opened at $22.82 on Friday. The business has a 50 day simple moving average of $21.83 and a 200-day simple moving average of $21.90. The firm has a market capitalization of $436.80 million, a PE ratio of -8.30 and a beta of 1.24. Zumiez Inc. has a 1 year low of $12.90 and a 1 year high of $31.37.

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

Zumiez 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.