Massachusetts Financial Services Co. MA Sells 460,976 Shares of Zumiez Inc. (NASDAQ:ZUMZ)

Massachusetts Financial Services Co. MA cut its holdings in Zumiez Inc. (NASDAQ:ZUMZ - Free Report) by 49.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 477,064 shares of the apparel and footwear maker's stock after selling 460,976 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.44% of Zumiez worth $7,103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in shares of Zumiez by 2.5% in the 1st quarter. Bank of New York Mellon Corp now owns 51,383 shares of the apparel and footwear maker's stock worth $765,000 after buying an additional 1,257 shares during the period. GAMMA Investing LLC grew its position in 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. State of Wyoming grew its position in Zumiez by 52.5% during the 4th quarter. State of Wyoming now owns 10,067 shares of the apparel and footwear maker's stock valued at $193,000 after purchasing an additional 3,464 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Zumiez during the 4th quarter valued at about $29,000. Finally, Point72 Asset Management L.P. purchased a new stake in Zumiez during the 4th quarter valued at about $140,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Liliana Gil Valletta sold 6,600 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $12.82, for a total transaction of $84,612.00. Following the sale, the director owned 10,809 shares of the company's stock, valued at $138,571.38. This trade represents a 37.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 21.20% of the stock is currently owned by insiders.

Zumiez Price Performance

ZUMZ stock traded up $0.40 during trading on Wednesday, hitting $14.80. 200,915 shares of the stock traded hands, compared to its average volume of 298,727. Zumiez Inc. has a 1 year low of $11.31 and a 1 year high of $31.37. The firm's 50 day moving average is $12.96 and its two-hundred day moving average is $13.92. The stock has a market cap of $263.00 million, a price-to-earnings ratio of 1,481.48 and a beta of 0.91.

Zumiez (NASDAQ:ZUMZ - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The apparel and footwear maker reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.02). Zumiez had a net margin of 0.08% and a return on equity of 0.23%. The firm had revenue of $184.34 million for the quarter, compared to analysts' expectations of $182.23 million. During the same period last year, the company posted ($0.86) earnings per share. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, analysts anticipate that Zumiez Inc. will post -0.12 EPS for the current fiscal year.

Zumiez declared that its Board of Directors has authorized a stock buyback program on Thursday, June 5th that allows the company to repurchase $15.00 million in outstanding shares. This repurchase authorization allows the apparel and footwear maker to buy up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are 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.