Two Sigma Investments LP Cuts Stock Holdings in Zumiez Inc. (NASDAQ:ZUMZ)

Two Sigma Investments LP reduced its stake in shares of Zumiez Inc. (NASDAQ:ZUMZ - Free Report) by 56.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 41,472 shares of the apparel and footwear maker's stock after selling 54,558 shares during the period. Two Sigma Investments LP owned approximately 0.22% of Zumiez worth $795,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Zumiez in the fourth quarter worth $29,000. Point72 Asset Management L.P. bought a new stake in Zumiez in the fourth quarter worth $140,000. Wells Fargo & Company MN lifted its stake in Zumiez by 20.6% in the fourth quarter. Wells Fargo & Company MN now owns 9,093 shares of the apparel and footwear maker's stock worth $174,000 after purchasing an additional 1,555 shares during the last quarter. State of Wyoming lifted its stake in Zumiez by 52.5% in the fourth quarter. State of Wyoming now owns 10,067 shares of the apparel and footwear maker's stock worth $193,000 after purchasing an additional 3,464 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in Zumiez in the fourth quarter worth $218,000. 95.45% of the stock is owned by institutional investors.

Zumiez Price Performance

Zumiez stock traded down $0.41 during mid-day trading on Wednesday, hitting $11.87. The company's stock had a trading volume of 381,654 shares, compared to its average volume of 299,175. The stock has a market cap of $232.26 million, a price-to-earnings ratio of -4.62 and a beta of 0.90. The business has a 50 day moving average price of $12.53 and a 200-day moving average price of $15.45. Zumiez Inc. has a 12 month low of $11.31 and a 12 month high of $31.37.

Zumiez (NASDAQ:ZUMZ - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The apparel and footwear maker reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.02). The business had revenue of $184.34 million during the quarter, compared to the consensus estimate of $182.23 million. Zumiez had a negative return on equity of 2.67% and a negative net margin of 5.60%. The business's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.86) earnings per share. On average, equities research analysts expect that Zumiez Inc. will post -0.12 earnings per share for the current fiscal year.

Zumiez declared that its Board of Directors has approved a stock repurchase plan on Thursday, June 5th that permits the company to buyback $15.00 million in shares. This buyback authorization permits the apparel and footwear maker to purchase up to 6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management 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.