Zumiez Inc. (NASDAQ:ZUMZ) Short Interest Down 31.5% in August

Zumiez Inc. (NASDAQ:ZUMZ) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 674,600 shares, a decline of 31.5% from the August 15th total of 985,400 shares. Approximately 4.4% of the shares of the company are short sold. Based on an average trading volume of 303,800 shares, the days-to-cover ratio is currently 2.2 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ZUMZ. B. Riley raised their price target on Zumiez from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Jefferies Financial Group boosted their price target on shares of Zumiez from $14.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, June 7th.

Hedge Funds Weigh In On Zumiez

Several hedge funds have recently made changes to their positions in ZUMZ. Signaturefd LLC raised its position in Zumiez by 83.2% during the second 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 increased its holdings in shares of Zumiez by 2,090.1% in 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 period. ProShare Advisors LLC acquired a new position in shares of Zumiez in the 2nd quarter valued at about $42,000. Ariadne Wealth Management LP purchased a new stake in shares of Zumiez in the second quarter worth approximately $54,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Zumiez during the first quarter worth approximately $196,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Zumiez Stock Performance

Shares of NASDAQ ZUMZ opened at $24.48 on Monday. Zumiez has a 1 year low of $12.90 and a 1 year high of $31.37. The firm has a market cap of $496.31 million, a P/E ratio of -7.77 and a beta of 1.25. The stock has a fifty day moving average price of $24.76 and a two-hundred day moving average price of $19.71.

Zumiez (NASDAQ:ZUMZ) last announced its earnings results on Thursday, September 5th. The apparel and footwear maker reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.29. The business had revenue of $210.18 million during the quarter, compared to analysts’ expectations of $201.93 million. Zumiez had a negative return on equity of 3.52% and a negative net margin of 6.02%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.44) earnings per share. On average, research analysts predict that Zumiez will post 0.08 earnings per share for the current fiscal 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.