Bank of America Corp DE Sells 2,886 Shares of Zumiez Inc. (NASDAQ:ZUMZ)

Bank of America Corp DE cut its stake in shares of Zumiez Inc. (NASDAQ:ZUMZ) by 7.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,458 shares of the apparel and footwear maker’s stock after selling 2,886 shares during the quarter. Bank of America Corp DE’s holdings in Zumiez were worth $661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ZUMZ. Divisar Capital Management LLC increased its stake in shares of Zumiez by 33.2% in the fourth quarter. Divisar Capital Management LLC now owns 691,879 shares of the apparel and footwear maker’s stock worth $13,263,000 after buying an additional 172,362 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Zumiez by 19.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 421,045 shares of the apparel and footwear maker’s stock valued at $8,071,000 after acquiring an additional 68,676 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Zumiez by 104.1% during the fourth quarter. BNP Paribas Financial Markets now owns 115,377 shares of the apparel and footwear maker’s stock valued at $2,212,000 after acquiring an additional 58,848 shares during the last quarter. Tieton Capital Management LLC boosted its holdings in shares of Zumiez by 22.7% during the fourth quarter. Tieton Capital Management LLC now owns 256,505 shares of the apparel and footwear maker’s stock worth $4,917,000 after purchasing an additional 47,435 shares during the period. Finally, Meeder Asset Management Inc. raised its position in Zumiez by 364.7% during the 4th quarter. Meeder Asset Management Inc. now owns 26,298 shares of the apparel and footwear maker’s stock valued at $504,000 after purchasing an additional 20,639 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors.

Zumiez Stock Performance

ZUMZ opened at $11.90 on Tuesday. The stock has a market capitalization of $232.85 million, a PE ratio of -4.63 and a beta of 0.90. The stock’s 50 day moving average price is $12.58 and its 200-day moving average price is $15.49. Zumiez Inc. has a 52-week low of $11.31 and a 52-week high of $31.37.

Zumiez (NASDAQ:ZUMZ) last issued its quarterly earnings data on Thursday, June 5th. The apparel and footwear maker reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.02). Zumiez had a negative net margin of 5.60% and a negative return on equity of 2.67%. The company had revenue of $184.34 million for the quarter, compared to analysts’ expectations of $182.23 million. During the same period in the previous year, the firm posted ($0.86) earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts forecast that Zumiez Inc. will post -0.12 EPS for the current fiscal year.

Zumiez announced that its board has authorized a stock buyback plan on Thursday, June 5th that permits the company to buyback $15.00 million in outstanding shares. This buyback authorization permits the apparel and footwear maker to purchase up to 6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.