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

Zumiez Inc. (NASDAQ:ZUMZ) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,380,000 shares, an increase of 25.5% from the March 31st total of 1,100,000 shares. Based on an average daily trading volume, of 207,800 shares, the days-to-cover ratio is currently 6.6 days. Approximately 8.7% of the company’s shares are sold short.

Insider Activity

In other Zumiez news, insider Adam Christopher Ellis acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was bought at an average price of $14.31 per share, for a total transaction of $143,100.00. Following the acquisition, the insider now directly owns 57,917 shares in the company, valued at $828,792.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 20.30% of the company’s stock.

Hedge Funds Weigh In On Zumiez

Hedge funds and other institutional investors have recently modified their holdings of the business. Mutual Advisors LLC purchased a new stake in Zumiez during the third quarter worth $663,000. Hsbc Holdings PLC purchased a new stake in shares of Zumiez during the 3rd quarter worth $300,000. Dark Forest Capital Management LP lifted its stake in shares of 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 purchasing an additional 51,891 shares during the last quarter. PEAK6 Investments LLC boosted its position in Zumiez by 23.7% during the third quarter. PEAK6 Investments LLC now owns 16,083 shares of the apparel and footwear maker’s stock valued at $286,000 after purchasing an additional 3,080 shares in the last quarter. Finally, Algert Global LLC grew its stake in Zumiez by 309.8% in the third 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 during the last quarter. 95.45% of the stock is currently owned by institutional investors.

Zumiez Price Performance

ZUMZ opened at $16.94 on Tuesday. Zumiez has a 12-month low of $12.90 and a 12-month high of $21.49. The business’s fifty day simple moving average is $15.54 and its 200-day simple moving average is $17.22.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on ZUMZ shares. B. Riley lowered their price objective on shares of Zumiez from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, March 20th. StockNews.com raised shares of Zumiez from a “sell” rating to a “hold” rating in a research note on Friday, April 12th.

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.