Zumiez (NASDAQ:ZUMZ) Shares Pass Above 200 Day Moving Average - Time to Sell?

Zumiez Inc. (NASDAQ:ZUMZ - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.78 and traded as high as $15.17. Zumiez shares last traded at $15.15, with a volume of 112,342 shares trading hands.

Zumiez Stock Performance

The stock has a market cap of $237.17 million, a price-to-earnings ratio of 1,332.13 and a beta of 0.91. The company's 50 day simple moving average is $13.19 and its two-hundred day simple moving average is $13.77.

Zumiez (NASDAQ:ZUMZ - Get Free Report) last issued its 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). Zumiez had a return on equity of 0.23% and a net margin of 0.08%. The firm had revenue of $184.34 million during the quarter, compared to analyst estimates of $182.23 million. During the same period in the previous year, the company earned ($0.86) earnings per share. The business's revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts predict that Zumiez Inc. will post -0.12 earnings per share for the current fiscal year.

Zumiez declared that its Board of Directors has authorized a stock repurchase program on Thursday, June 5th that permits the company to repurchase $15.00 million in outstanding shares. This repurchase authorization permits the apparel and footwear maker to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Zumiez

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its holdings in Zumiez by 338.9% during the fourth quarter. Millennium Management LLC now owns 229,173 shares of the apparel and footwear maker's stock valued at $4,393,000 after purchasing an additional 176,953 shares during the last quarter. GAMMA Investing LLC grew its holdings in Zumiez by 6,451.4% during the first 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. Arrowstreet Capital Limited Partnership grew its holdings in Zumiez by 19.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 421,045 shares of the apparel and footwear maker's stock valued at $8,071,000 after purchasing an additional 68,676 shares during the last quarter. Man Group plc grew its holdings in Zumiez by 33.7% during the fourth quarter. Man Group plc now owns 83,572 shares of the apparel and footwear maker's stock valued at $1,602,000 after purchasing an additional 21,082 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Zumiez by 26.0% in the 4th quarter. Renaissance Technologies LLC now owns 53,811 shares of the apparel and footwear maker's stock valued at $1,032,000 after buying an additional 11,111 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

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.