LSV Asset Management Has $696,000 Stake in Zumiez Inc. (NASDAQ:ZUMZ)

Posted by Defense World Staff on May 15th, 2023

LSV Asset Management trimmed its stake in shares of Zumiez Inc. (NASDAQ:ZUMZ – Get Rating) by 60.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,000 shares of the apparel and footwear maker’s stock after selling 48,315 shares during the period. LSV Asset Management owned approximately 0.16% of Zumiez worth $696,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. SummerHaven Investment Management LLC lifted its position in shares of Zumiez by 1.6% during the fourth quarter. SummerHaven Investment Management LLC now owns 30,639 shares of the apparel and footwear maker’s stock worth $666,000 after purchasing an additional 473 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Zumiez by 4.1% in the second quarter. Envestnet Asset Management Inc. now owns 13,475 shares of the apparel and footwear maker’s stock valued at $350,000 after buying an additional 528 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Zumiez by 4.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,838 shares of the apparel and footwear maker’s stock valued at $643,000 after buying an additional 672 shares during the period. Swiss National Bank lifted its holdings in Zumiez by 1.8% in the fourth quarter. Swiss National Bank now owns 39,900 shares of the apparel and footwear maker’s stock valued at $867,000 after buying an additional 700 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in Zumiez by 946.8% in the first 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 during the period. 84.77% of the stock is currently owned by institutional investors and hedge funds.

Zumiez Stock Performance

NASDAQ ZUMZ opened at $15.99 on Monday. The firm has a 50-day moving average of $18.31 and a 200-day moving average of $21.68. The stock has a market cap of $315.79 million, a PE ratio of 14.67 and a beta of 1.51. Zumiez Inc. has a 52-week low of $15.59 and a 52-week high of $35.42.

Zumiez (NASDAQ:ZUMZ – Get Rating) last posted its earnings results on Thursday, March 9th. The apparel and footwear maker reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.10. Zumiez had a net margin of 2.19% and a return on equity of 5.45%. The company had revenue of $280.11 million during the quarter, compared to analysts’ expectations of $268.60 million. During the same quarter last year, the company posted $1.70 EPS. Zumiez’s quarterly revenue was down 19.2% compared to the same quarter last year. As a group, analysts predict that Zumiez Inc. will post 0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zumiez news, insider Troy R. Brown sold 40,000 shares of Zumiez stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $18.55, for a total value of $742,000.00. Following the completion of the sale, the insider now owns 31,735 shares in the company, valued at approximately $588,684.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 20.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ZUMZ. William Blair reaffirmed a “market perform” rating on shares of Zumiez in a research note on Friday, March 10th. StockNews.com assumed coverage on shares of Zumiez in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, B. Riley decreased their target price on shares of Zumiez from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, March 22nd.

Zumiez Profile

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Zumiez, Inc engages in the retail of apparel, footwear, accessories, and hardgoods for young men and women. It offers hard goods which include skateboards, snowboards, bindings, components, and other equipment under the brand names Zumiez, Blue Tomato, and Fast Times brands. The company was founded by Thomas D.