Massachusetts Financial Services Co. MA Lowers Stock Holdings in Zumiez Inc. (NASDAQ:ZUMZ)

Massachusetts Financial Services Co. MA cut its stake in Zumiez Inc. (NASDAQ:ZUMZ - Free Report) by 27.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 984,733 shares of the apparel and footwear maker's stock after selling 374,679 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 5.14% of Zumiez worth $20,975,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Signaturefd LLC raised its holdings in shares of Zumiez by 83.2% during the second quarter. Signaturefd LLC now owns 1,480 shares of the apparel and footwear maker's stock valued at $29,000 after acquiring an additional 672 shares during the last quarter. CWM LLC raised its stake in Zumiez by 2,090.1% in the 2nd quarter. CWM LLC now owns 1,993 shares of the apparel and footwear maker's stock valued at $39,000 after purchasing an additional 1,902 shares during the last quarter. ProShare Advisors LLC purchased a new position in Zumiez in the 2nd quarter valued at $42,000. Ariadne Wealth Management LP acquired a new stake in Zumiez during the 2nd quarter worth $54,000. Finally, US Bancorp DE grew its holdings in shares of Zumiez by 67,262.5% during the third quarter. US Bancorp DE now owns 5,389 shares of the apparel and footwear maker's stock worth $115,000 after buying an additional 5,381 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Zumiez news, Director Liliana Gil Valletta sold 3,283 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $21.85, for a total transaction of $71,733.55. Following the completion of the transaction, the director now owns 15,002 shares of the company's stock, valued at $327,793.70. This trade represents a 17.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 20.30% of the company's stock.

Zumiez Price Performance

Zumiez stock traded down $0.77 during trading on Tuesday, reaching $22.58. 188,506 shares of the company were exchanged, compared to its average volume of 254,445. The stock's 50 day simple moving average is $21.85 and its two-hundred day simple moving average is $21.96. The company has a market capitalization of $432.18 million, a P/E ratio of -8.21 and a beta of 1.24. Zumiez Inc. has a 52-week low of $12.90 and a 52-week high of $31.37.

Zumiez (NASDAQ:ZUMZ - Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The apparel and footwear maker reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.29. Zumiez had a negative return on equity of 3.52% and a negative net margin of 6.02%. The business had revenue of $210.18 million for the quarter, compared to analyst estimates of $201.93 million. During the same quarter in the previous year, the firm earned ($0.44) EPS. The company's quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts forecast that Zumiez Inc. will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, B. Riley raised their price target on shares of Zumiez from $20.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th.

Zumiez Company 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.