Short Interest in Zumiez Inc. (NASDAQ:ZUMZ) Drops By 28.1%

Zumiez Inc. (NASDAQ:ZUMZ) was the target of a large decline in short interest in the month of April. As of April 30th, there was short interest totalling 991,700 shares, a decline of 28.1% from the April 15th total of 1,380,000 shares. Based on an average daily volume of 220,400 shares, the days-to-cover ratio is presently 4.5 days. Approximately 6.1% of the company’s stock are sold short.

Insider Activity at Zumiez

In other Zumiez news, insider Adam Christopher Ellis purchased 10,000 shares of Zumiez stock in a transaction that occurred on Thursday, April 4th. The stock was acquired at an average price of $14.31 per share, for a total transaction of $143,100.00. Following the completion of the acquisition, the insider now owns 57,917 shares of the company’s stock, valued at approximately $828,792.27. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 20.30% of the stock is owned by insiders.

Institutional Trading of Zumiez

Several institutional investors and hedge funds have recently made changes to their positions in ZUMZ. Mutual Advisors LLC purchased a new position in shares of Zumiez during the third quarter valued at approximately $663,000. Hsbc Holdings PLC bought a new position in Zumiez during the 3rd quarter valued at $300,000. Dark Forest Capital Management LP grew its holdings in Zumiez by 487.5% during the 3rd quarter. Dark Forest Capital Management LP now owns 62,536 shares of the apparel and footwear maker’s stock worth $1,113,000 after acquiring an additional 51,891 shares in the last quarter. PEAK6 Investments LLC increased its position in shares of Zumiez by 23.7% in the 3rd quarter. PEAK6 Investments LLC now owns 16,083 shares of the apparel and footwear maker’s stock worth $286,000 after purchasing an additional 3,080 shares during the last quarter. Finally, Algert Global LLC raised its stake in shares of Zumiez by 309.8% in the 3rd quarter. Algert Global LLC now owns 76,710 shares of the apparel and footwear maker’s stock valued at $1,365,000 after purchasing an additional 57,990 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Zumiez Price Performance

Shares of NASDAQ ZUMZ opened at $18.02 on Monday. The firm’s 50 day simple moving average is $15.57 and its 200-day simple moving average is $17.26. Zumiez has a 12 month low of $12.90 and a 12 month high of $21.49. The stock has a market capitalization of $365.63 million, a price-to-earnings ratio of -5.54 and a beta of 1.38.

Zumiez (NASDAQ:ZUMZ) last released its quarterly earnings results on Thursday, March 14th. The apparel and footwear maker reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.14. Zumiez had a negative net margin of 7.15% and a negative return on equity of 5.70%. The firm had revenue of $281.82 million during the quarter, compared to the consensus estimate of $275.98 million. Analysts anticipate that Zumiez will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ZUMZ shares. StockNews.com raised shares of Zumiez from a “sell” rating to a “hold” rating in a report on Friday, April 12th. B. Riley cut their price objective on Zumiez from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, March 20th.

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.