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

Zumiez Inc. (NASDAQ:ZUMZ) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,100,000 shares, an increase of 36.2% from the March 15th total of 807,700 shares. Currently, 6.9% of the company’s shares are short sold. Based on an average daily trading volume, of 186,600 shares, the days-to-cover ratio is currently 5.9 days.

Zumiez Stock Performance

Shares of ZUMZ stock traded down $0.23 during mid-day trading on Friday, reaching $14.64. 190,752 shares of the company’s stock traded hands, compared to its average volume of 248,157. Zumiez has a 12 month low of $12.90 and a 12 month high of $21.49. The company’s 50-day moving average price is $16.06 and its 200-day moving average price is $17.33.

Zumiez (NASDAQ:ZUMZ) last announced its earnings results on Thursday, March 14th. The apparel and footwear maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $275.98 million. On average, equities analysts expect that Zumiez will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Adam Christopher Ellis bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were bought at an average cost of $14.31 per share, with a total value of $143,100.00. Following the completion of the purchase, the insider now directly owns 57,917 shares in the company, valued at $828,792.27. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 20.20% of the stock is owned by insiders.

Institutional Trading of Zumiez

A number of hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its holdings in shares of Zumiez by 4.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,475 shares of the apparel and footwear maker’s stock valued at $350,000 after buying an additional 528 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Zumiez by 1.6% during the 4th quarter. Legal & General Group Plc now owns 37,923 shares of the apparel and footwear maker’s stock valued at $824,000 after buying an additional 590 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Zumiez by 3.6% during the 4th quarter. Hsbc Holdings PLC now owns 17,608 shares of the apparel and footwear maker’s stock valued at $357,000 after buying an additional 615 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Zumiez by 19.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,100 shares of the apparel and footwear maker’s stock worth $73,000 after purchasing an additional 658 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Zumiez by 4.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,838 shares of the apparel and footwear maker’s stock worth $643,000 after purchasing an additional 672 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. B. Riley cut their price target on shares of Zumiez from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, March 20th. StockNews.com upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a report on Friday.

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.