Zumiez (NASDAQ:ZUMZ) Updates Q1 2024 Earnings Guidance

Zumiez (NASDAQ:ZUMZ) issued an update on its first quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of -1.190–1.090 for the period, compared to the consensus earnings per share estimate of -0.340. The company issued revenue guidance of $167.0 million-$172.0 million, compared to the consensus revenue estimate of $186.3 million. Zumiez also updated its Q1 guidance to ($1.19)-($1.09) EPS.

Zumiez Price Performance

Shares of ZUMZ traded down $0.67 during midday trading on Thursday, hitting $14.73. The stock had a trading volume of 598,858 shares, compared to its average volume of 175,203. The company has a 50 day simple moving average of $17.67 and a two-hundred day simple moving average of $17.83. Zumiez has a twelve month low of $13.19 and a twelve month high of $21.49. The firm has a market cap of $292.15 million, a price-to-earnings ratio of -15.84 and a beta of 1.48.

Institutional Trading of Zumiez

A number of hedge funds and other institutional investors have recently modified their holdings of ZUMZ. Millennium Management LLC increased its position in shares of Zumiez by 414.0% in the fourth quarter. Millennium Management LLC now owns 609,324 shares of the apparel and footwear maker’s stock valued at $13,247,000 after acquiring an additional 490,772 shares during the last quarter. Marshall Wace LLP increased its position in Zumiez by 1,571.0% during the second quarter. Marshall Wace LLP now owns 272,380 shares of the apparel and footwear maker’s stock worth $4,538,000 after buying an additional 256,080 shares during the last quarter. Renaissance Technologies LLC increased its position in Zumiez by 134.9% during the second quarter. Renaissance Technologies LLC now owns 302,008 shares of the apparel and footwear maker’s stock worth $7,852,000 after buying an additional 173,415 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Zumiez during the fourth quarter worth approximately $3,757,000. Finally, Thrivent Financial for Lutherans increased its position in Zumiez by 9.4% during the first quarter. Thrivent Financial for Lutherans now owns 1,723,880 shares of the apparel and footwear maker’s stock worth $31,788,000 after buying an additional 148,394 shares during the last quarter. Institutional investors and hedge funds own 75.17% 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. The company also offers 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.