Traders Buy Large Volume of Put Options on Zumiez (NASDAQ:ZUMZ)

Zumiez Inc. (NASDAQ:ZUMZGet Rating) saw unusually large options trading activity on Friday. Traders purchased 3,517 put options on the company. This represents an increase of approximately 2,394% compared to the average daily volume of 141 put options.

Hedge Funds Weigh In On Zumiez

Hedge funds and other institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors raised its position in shares of Zumiez by 946.8% in the 1st quarter. Captrust Financial Advisors now owns 806 shares of the apparel and footwear maker’s stock valued at $31,000 after buying an additional 729 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Zumiez by 211.9% during the 2nd quarter. Lazard Asset Management LLC now owns 1,341 shares of the apparel and footwear maker’s stock valued at $34,000 after purchasing an additional 911 shares during the last quarter. Point72 Hong Kong Ltd grew its holdings in shares of Zumiez by 121.0% during the 4th quarter. Point72 Hong Kong Ltd now owns 2,599 shares of the apparel and footwear maker’s stock valued at $125,000 after purchasing an additional 1,423 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Zumiez during the 4th quarter valued at approximately $204,000. Finally, ProShare Advisors LLC bought a new stake in shares of Zumiez during the 4th quarter valued at approximately $256,000. 87.11% of the stock is currently owned by institutional investors and hedge funds.

Zumiez Trading Up 3.8 %

Shares of NASDAQ:ZUMZ opened at $27.56 on Friday. The firm has a 50 day moving average of $27.08 and a 200-day moving average of $32.92. The stock has a market capitalization of $536.32 million, a PE ratio of 8.92 and a beta of 1.51. Zumiez has a 12 month low of $23.07 and a 12 month high of $55.10.

Zumiez (NASDAQ:ZUMZGet Rating) last issued its earnings results on Thursday, September 8th. The apparel and footwear maker reported $0.16 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.31). The firm had revenue of $219.99 million during the quarter, compared to analyst estimates of $231.50 million. Zumiez had a net margin of 6.65% and a return on equity of 15.59%. Zumiez’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.02 earnings per share. On average, research analysts predict that Zumiez will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

ZUMZ has been the subject of a number of research reports. William Blair cut shares of Zumiez from an “outperform” rating to a “market perform” rating in a research note on Friday. B. Riley cut shares of Zumiez from a “buy” rating to a “neutral” rating and cut their target price for the stock from $42.00 to $25.00 in a research note on Friday. StockNews.com cut shares of Zumiez from a “buy” rating to a “hold” rating in a research note on Monday, June 6th. Finally, TheStreet cut shares of Zumiez from a “b-” rating to a “c” rating in a research note on Friday, June 3rd. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Zumiez currently has an average rating of “Hold” and a consensus target price of $38.50.

About Zumiez

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Zumiez Inc, together with its subsidiaries, operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. Its hardgoods include skateboards, snowboards, bindings, components, and other equipment. As of February 26, 2022, the company operated 738 stores, including 602 stores in the United States, 52 stores in Canada, 67 stores in Europe, and 17 stores in Australia under the names of Zumiez, Blue Tomato, and Fast Times.

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