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

Zumiez Inc. (NASDAQ:ZUMZ) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 1,530,000 shares, an increase of 34.2% from the August 15th total of 1,140,000 shares. Based on an average daily trading volume, of 318,300 shares, the short-interest ratio is currently 4.8 days. Currently, 7.3% of the shares of the stock are sold short.

Several brokerages have recently weighed in on ZUMZ. BidaskClub upgraded Zumiez from a “hold” rating to a “buy” rating in a report on Saturday, September 5th. Zacks Investment Research cut Zumiez from a “hold” rating to a “strong sell” rating and set a $20.00 price objective on the stock. in a report on Friday, August 7th. B. Riley upped their price objective on Zumiez from $35.00 to $33.00 in a report on Friday, September 11th. Wedbush upped their price objective on Zumiez from $20.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Finally, Pivotal Research restated a “hold” rating and set a $32.00 price target on shares of Zumiez in a research note on Friday, June 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.86.

Shares of NASDAQ:ZUMZ opened at $30.53 on Thursday. Zumiez has a twelve month low of $13.13 and a twelve month high of $35.68. The firm has a market cap of $776.84 million, a P/E ratio of 12.72 and a beta of 1.71. The company has a 50 day moving average of $25.40 and a 200-day moving average of $23.55.

Zumiez (NASDAQ:ZUMZ) last posted its quarterly earnings data on Thursday, September 10th. The apparel and footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.67. Zumiez had a net margin of 6.25% and a return on equity of 14.02%. The business had revenue of $250.40 million during the quarter, compared to the consensus estimate of $229.34 million. During the same period in the prior year, the firm earned $0.36 EPS. Zumiez’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts forecast that Zumiez will post 1.94 earnings per share for the current fiscal year.

In other Zumiez news, Director Scott Andrew Bailey sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $30.82, for a total transaction of $67,804.00. Following the completion of the sale, the director now directly owns 5,131 shares in the company, valued at approximately $158,137.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Adam Christopher Ellis sold 2,772 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $30.00, for a total value of $83,160.00. Following the transaction, the insider now owns 38,112 shares in the company, valued at $1,143,360. The disclosure for this sale can be found here. 18.40% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of ZUMZ. Royal Bank of Canada boosted its position in Zumiez by 347.0% during the first quarter. Royal Bank of Canada now owns 7,719 shares of the apparel and footwear maker’s stock worth $134,000 after purchasing an additional 5,992 shares during the period. Invenomic Capital Management LP bought a new position in shares of Zumiez during the 1st quarter worth approximately $163,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Zumiez by 48.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,257 shares of the apparel and footwear maker’s stock worth $178,000 after purchasing an additional 3,346 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Zumiez in the 1st quarter valued at $189,000. Finally, Pacer Advisors Inc. increased its position in shares of Zumiez by 9.2% during the 2nd quarter. Pacer Advisors Inc. now owns 7,060 shares of the apparel and footwear maker’s stock valued at $193,000 after purchasing an additional 592 shares during the last quarter. Institutional investors own 80.45% of the company’s stock.

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 September 1, 2018, the company operated 703 stores, including 610 stores in the United States, 50 stores in Canada, 36 stores in Europe, and 7 stores in Australia under the names of Zumiez, Blue Tomato, and Fast Times.

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