Charles Schwab Investment Management Inc. Sells 91,186 Shares of Zumiez Inc. (NASDAQ:ZUMZ)

Charles Schwab Investment Management Inc. cut its holdings in Zumiez Inc. (NASDAQ:ZUMZ) by 21.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 327,580 shares of the apparel and footwear maker’s stock after selling 91,186 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Zumiez were worth $6,977,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC grew its stake in shares of Zumiez by 83.2% in the 2nd 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 during the period. CWM LLC boosted its stake in Zumiez by 2,090.1% during the 2nd 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 during the last quarter. ProShare Advisors LLC bought a new position in shares of Zumiez during the 2nd quarter worth approximately $42,000. Ariadne Wealth Management LP bought a new position in shares of Zumiez during the 2nd quarter worth approximately $54,000. Finally, US Bancorp DE lifted its position in shares of Zumiez by 67,262.5% during the 3rd quarter. US Bancorp DE now owns 5,389 shares of the apparel and footwear maker’s stock worth $115,000 after buying an additional 5,381 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Liliana Gil Valletta sold 3,283 shares of the company’s stock in a transaction on Friday, September 27th. The shares were 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 directly owns 15,002 shares in the company, valued at approximately $327,793.70. The trade was a 17.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 20.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Zumiez Price Performance

Shares of ZUMZ stock opened at $21.77 on Thursday. The company’s fifty day simple moving average is $21.90 and its two-hundred day simple moving average is $22.27. Zumiez Inc. has a 1 year low of $12.90 and a 1 year high of $31.37. The stock has a market capitalization of $417.33 million, a price-to-earnings ratio of -8.47 and a beta of 1.25.

Zumiez (NASDAQ:ZUMZ) last issued its earnings results on Thursday, December 5th. The apparel and footwear maker reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $222.50 million for the quarter, compared to analysts’ expectations of $222.06 million. Zumiez had a negative net margin of 5.60% and a negative return on equity of 2.67%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) EPS. Equities research analysts anticipate that Zumiez Inc. will post 0.06 EPS 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.