Strs Ohio acquired a new stake in shares of Zumiez Inc. (NASDAQ:ZUMZ – Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 25,200 shares of the apparel and footwear maker’s stock, valued at approximately $375,000. Strs Ohio owned approximately 0.13% of Zumiez as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Acadian Asset Management LLC raised its stake in shares of Zumiez by 2.6% during the first quarter. Acadian Asset Management LLC now owns 587,816 shares of the apparel and footwear maker’s stock valued at $8,750,000 after purchasing an additional 14,703 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Zumiez by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 233,020 shares of the apparel and footwear maker’s stock valued at $3,470,000 after purchasing an additional 7,895 shares in the last quarter. Millennium Management LLC raised its position in Zumiez by 338.9% in the fourth quarter. Millennium Management LLC now owns 229,173 shares of the apparel and footwear maker’s stock worth $4,393,000 after acquiring an additional 176,953 shares in the last quarter. GSA Capital Partners LLP raised its position in Zumiez by 50.8% in the first quarter. GSA Capital Partners LLP now owns 139,889 shares of the apparel and footwear maker’s stock worth $2,083,000 after acquiring an additional 47,105 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY bought a new stake in Zumiez in the first quarter worth about $1,980,000. 95.45% of the stock is currently owned by institutional investors.
Zumiez Trading Down 0.9%
NASDAQ ZUMZ opened at $20.16 on Tuesday. The stock’s 50-day moving average price is $16.59 and its two-hundred day moving average price is $14.30. The company has a market cap of $345.74 million, a PE ratio of -2,013.99 and a beta of 0.96. Zumiez Inc. has a 1 year low of $11.31 and a 1 year high of $24.37.
Zumiez declared that its board has authorized a stock buyback plan on Thursday, June 5th that allows the company to buyback $15.00 million in outstanding shares. This buyback authorization allows the apparel and footwear maker to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Insider Activity
In other Zumiez news, Director Liliana Gil Valletta sold 3,655 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $21.30, for a total transaction of $77,851.50. Following the sale, the director owned 7,154 shares in the company, valued at approximately $152,380.20. The trade was a 33.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris K. Visser sold 5,618 shares of Zumiez stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $20.09, for a total value of $112,865.62. Following the transaction, the insider directly owned 44,303 shares in the company, valued at approximately $890,047.27. This trade represents a 11.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,873 shares of company stock worth $275,329. Corporate insiders own 20.30% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on ZUMZ shares. Zacks Research upgraded shares of Zumiez from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 3rd. B. Riley boosted their price target on shares of Zumiez from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $18.00.
Read Our Latest Report on Zumiez
Zumiez 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.
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