Alliancebernstein L.P. Cuts Stake in Zumiez Inc. (NASDAQ:ZUMZ)
Alliancebernstein L.P. cut its position in Zumiez Inc. (NASDAQ:ZUMZ) by 19.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,186 shares of the apparel and footwear maker’s stock after selling 5,300 shares during the period. Alliancebernstein L.P.’s holdings in Zumiez were worth $406,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in ZUMZ. First Mercantile Trust Co. increased its position in Zumiez by 44.1% in the first quarter. First Mercantile Trust Co. now owns 8,865 shares of the apparel and footwear maker’s stock worth $162,000 after buying an additional 2,715 shares during the period. Thrivent Financial for Lutherans purchased a new position in Zumiez during the fourth quarter worth about $206,000. BNP Paribas Arbitrage SA increased its position in Zumiez by 4.6% in the first quarter. BNP Paribas Arbitrage SA now owns 10,082 shares of the apparel and footwear maker’s stock worth $185,000 after buying an additional 441 shares during the period. State of Tennessee Treasury Department increased its position in Zumiez by 7.3% in the first quarter. State of Tennessee Treasury Department now owns 16,441 shares of the apparel and footwear maker’s stock worth $301,000 after buying an additional 1,123 shares during the period. Finally, Keybank National Association OH purchased a new position in Zumiez during the first quarter worth about $334,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.
Shares of Zumiez Inc. (NASDAQ ZUMZ) traded up 0.617% during midday trading on Friday, hitting $12.225. The stock had a trading volume of 11,693 shares. The stock has a market cap of $308.03 million, a PE ratio of 12.882 and a beta of 1.22. Zumiez Inc. has a 52-week low of $11.60 and a 52-week high of $26.55. The firm has a 50 day moving average price of $12.47 and a 200-day moving average price of $16.17.
Zumiez (NASDAQ:ZUMZ) last released its quarterly earnings results on Thursday, June 1st. The apparel and footwear maker reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.02. Zumiez had a net margin of 2.79% and a return on equity of 7.98%. The firm had revenue of $181.20 million during the quarter, compared to the consensus estimate of $179.35 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts predict that Zumiez Inc. will post $0.94 EPS for the current fiscal year.
A number of research firms have recently issued reports on ZUMZ. Jefferies Group LLC set a $15.00 price target on Zumiez and gave the stock a “hold” rating in a research note on Saturday, June 3rd. BMO Capital Markets set a $16.00 target price on Zumiez and gave the stock a “hold” rating in a report on Tuesday. BidaskClub raised Zumiez from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. ValuEngine cut Zumiez from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research raised Zumiez from a “sell” rating to a “hold” rating in a report on Friday, May 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $20.85.
Zumiez Inc, including its subsidiaries, is a specialty retailer of apparel, footwear, accessories and hardgoods for young men and women through the fashion, music, art and culture of action sports, streetwear and other lifestyles. The Company operates under the names Zumiez, Blue Tomato and Fast Times.
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