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

Zumiez Inc. (NASDAQ:ZUMZ) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 977,100 shares, a drop of 17.2% from the October 15th total of 1,180,000 shares. Based on an average daily volume of 315,700 shares, the days-to-cover ratio is presently 3.1 days. Currently, 6.5% of the shares of the company are sold short.

Zumiez Price Performance

NASDAQ:ZUMZ opened at $21.21 on Friday. The company has a market cap of $405.96 million, a price-to-earnings ratio of -7.71 and a beta of 1.24. Zumiez has a 1 year low of $12.90 and a 1 year high of $31.37. The stock’s 50 day simple moving average is $21.99 and its two-hundred day simple moving average is $21.74.

Zumiez (NASDAQ:ZUMZ) last announced 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. 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 for the quarter, compared to analysts’ expectations of $201.93 million. During the same quarter in the previous year, the business posted ($0.44) earnings per share. Zumiez’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, analysts anticipate that Zumiez will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

Separately, B. Riley boosted their price target 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 Buying and Selling

In other news, Director Liliana Gil Valletta sold 3,283 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $21.85, for a total value of $71,733.55. Following the completion of the transaction, the director now owns 15,002 shares of the company’s stock, valued at $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 available at this hyperlink. 20.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZUMZ. Geode Capital Management LLC lifted its position in Zumiez by 0.3% in the third quarter. Geode Capital Management LLC now owns 388,589 shares of the apparel and footwear maker’s stock worth $8,279,000 after buying an additional 1,195 shares during the last quarter. Barclays PLC raised its stake in shares of Zumiez by 55.6% in the third quarter. Barclays PLC now owns 47,387 shares of the apparel and footwear maker’s stock valued at $1,010,000 after acquiring an additional 16,934 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Zumiez by 32.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 36,841 shares of the apparel and footwear maker’s stock worth $785,000 after acquiring an additional 9,124 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Zumiez during the 3rd quarter worth about $442,000. Finally, XTX Topco Ltd bought a new position in Zumiez during the 3rd quarter valued at about $564,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.