GSA Capital Partners LLP Has $2.08 Million Stake in Zumiez Inc. (NASDAQ:ZUMZ)

Key Points

• GSA Capital Partners LLP increased its stake in Zumiez Inc. by 50.8% during the first quarter, now owning 139,889 shares valued at approximately $2.08 million.
• Zumiez reported a net loss of $0.79 per share for the last quarter, missing analyst expectations, although quarterly revenue rose by 3.9% year-over-year.
• The company has authorized a $15 million stock buyback program, indicating management's belief that the stock is undervalued, allowing repurchase of up to 6% of outstanding shares.

GSA Capital Partners LLP boosted its holdings in Zumiez Inc. (NASDAQ:ZUMZ - Free Report) by 50.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,889 shares of the apparel and footwear maker's stock after purchasing an additional 47,105 shares during the quarter. GSA Capital Partners LLP owned 0.71% of Zumiez worth $2,083,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in shares of Zumiez by 2.5% during the 1st quarter. Bank of New York Mellon Corp now owns 51,383 shares of the apparel and footwear maker's stock valued at $765,000 after purchasing an additional 1,257 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Zumiez during the 4th quarter valued at approximately $29,000. Wells Fargo & Company MN grew its holdings in shares of Zumiez by 20.6% during the 4th quarter. Wells Fargo & Company MN now owns 9,093 shares of the apparel and footwear maker's stock valued at $174,000 after purchasing an additional 1,555 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Zumiez by 0.4% during the 4th quarter. Ameriprise Financial Inc. now owns 375,422 shares of the apparel and footwear maker's stock valued at $7,197,000 after purchasing an additional 1,600 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Zumiez by 6,451.4% during the 1st quarter. GAMMA Investing LLC now owns 2,293 shares of the apparel and footwear maker's stock valued at $34,000 after purchasing an additional 2,258 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

Zumiez Price Performance

ZUMZ opened at $15.15 on Tuesday. Zumiez Inc. has a fifty-two week low of $11.31 and a fifty-two week high of $31.37. The firm has a market capitalization of $269.23 million, a price-to-earnings ratio of 1,516.52 and a beta of 0.91. The company's 50 day moving average price is $13.10 and its two-hundred day moving average price is $13.78.

Zumiez (NASDAQ:ZUMZ - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $184.34 million during the quarter, compared to analyst estimates of $182.23 million. Zumiez had a return on equity of 0.23% and a net margin of 0.08%. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.86) EPS. As a group, equities research analysts predict that Zumiez Inc. will post -0.12 EPS for the current year.

Zumiez declared that its board has authorized a stock buyback program on Thursday, June 5th that allows the company to buyback $15.00 million in outstanding shares. This buyback authorization allows the apparel and footwear maker to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Activity

In related news, Director Liliana Gil Valletta sold 6,600 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $12.82, for a total transaction of $84,612.00. Following the transaction, the director owned 10,809 shares in the company, valued at $138,571.38. The trade was a 37.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.20% of the stock is owned by insiders.

About Zumiez

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.

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