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

Zumiez Inc. (NASDAQ:ZUMZ) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 1,340,000 shares, an increase of 19.6% from the June 15th total of 1,120,000 shares. Based on an average daily trading volume, of 195,300 shares, the short-interest ratio is presently 6.9 days. Approximately 6.1% of the company’s shares are sold short.

Shares of ZUMZ opened at $44.17 on Thursday. Zumiez has a 1 year low of $20.88 and a 1 year high of $52.00. The firm has a market capitalization of $1.14 billion, a P/E ratio of 9.05 and a beta of 1.78. The company’s fifty day moving average price is $45.71.

Zumiez (NASDAQ:ZUMZ) last posted its quarterly earnings data on Wednesday, June 2nd. The apparel and footwear maker reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.99. The business had revenue of $279.07 million during the quarter, compared to the consensus estimate of $221.85 million. Zumiez had a net margin of 10.93% and a return on equity of 23.52%. The company’s quarterly revenue was up 102.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.84) earnings per share. As a group, equities analysts forecast that Zumiez will post 4.31 earnings per share for the current fiscal year.

In other Zumiez news, insider Chris K. Visser sold 1,851 shares of Zumiez stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $49.53, for a total transaction of $91,680.03. Following the transaction, the insider now directly owns 10,023 shares of the company’s stock, valued at $496,439.19. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Christopher Codington Work sold 5,300 shares of Zumiez stock in a transaction that occurred on Friday, June 4th. The shares were sold at an average price of $48.03, for a total transaction of $254,559.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,614 shares of company stock worth $688,194. 16.00% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. FORA Capital LLC acquired a new stake in Zumiez during the 1st quarter worth about $30,000. Vantage Consulting Group Inc acquired a new stake in Zumiez during the 4th quarter worth about $33,000. US Bancorp DE raised its holdings in Zumiez by 404.5% during the 1st quarter. US Bancorp DE now owns 888 shares of the apparel and footwear maker’s stock worth $39,000 after buying an additional 712 shares during the period. Meeder Asset Management Inc. raised its holdings in Zumiez by 7,631.3% during the 1st quarter. Meeder Asset Management Inc. now owns 1,237 shares of the apparel and footwear maker’s stock worth $53,000 after buying an additional 1,221 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Zumiez by 81.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,555 shares of the apparel and footwear maker’s stock worth $67,000 after buying an additional 696 shares during the period. Hedge funds and other institutional investors own 77.45% of the company’s stock.

A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Zumiez from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective on the stock in a research note on Tuesday, June 8th. B. Riley lifted their price target on shares of Zumiez from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, June 4th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $51.25.

About Zumiez

Zumiez Inc, together with its subsidiaries, operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. Its hardgoods include skateboards, snowboards, bindings, components, and other equipment. As of March 6, 2021, the company operated 722 stores, including 602 stores in the United States, 52 stores in Canada, 54 stores in Europe, and 14 stores in Australia under the names of Zumiez, Blue Tomato, and Fast Times.

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