Maverick Capital Ltd. Takes $1.69 Million Position in Zumiez Inc. (NASDAQ:ZUMZ)

Maverick Capital Ltd. acquired a new stake in shares of Zumiez Inc. (NASDAQ:ZUMZ) during the third quarter, HoldingsChannel reports. The fund acquired 79,439 shares of the apparel and footwear maker’s stock, valued at approximately $1,692,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Signaturefd LLC raised its stake in Zumiez by 83.2% during the 2nd quarter. Signaturefd LLC now owns 1,480 shares of the apparel and footwear maker’s stock valued at $29,000 after buying an additional 672 shares during the last quarter. SummerHaven Investment Management LLC increased its position in Zumiez by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 42,116 shares of the apparel and footwear maker’s stock valued at $820,000 after acquiring an additional 788 shares during the last quarter. CWM LLC increased its position in Zumiez by 69.6% during the third quarter. CWM LLC now owns 3,380 shares of the apparel and footwear maker’s stock valued at $72,000 after acquiring an additional 1,387 shares during the last quarter. Rhumbline Advisers lifted its holdings in Zumiez by 7.4% in the second quarter. Rhumbline Advisers now owns 27,550 shares of the apparel and footwear maker’s stock valued at $537,000 after acquiring an additional 1,898 shares during the period. Finally, ProShare Advisors LLC purchased a new position in Zumiez in the second quarter worth about $42,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley upped their price target on shares of Zumiez from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, September 6th.

Zumiez Trading Down 3.8 %

Shares of Zumiez stock opened at $22.07 on Friday. Zumiez Inc. has a 1-year low of $12.90 and a 1-year high of $31.37. The company’s fifty day simple moving average is $21.82 and its 200-day simple moving average is $22.03.

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

Insider Activity at Zumiez

In related news, Director Liliana Gil Valletta sold 3,283 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $21.85, for a total value of $71,733.55. Following the completion of the transaction, the director now owns 15,002 shares of the company’s stock, valued at approximately $327,793.70. This represents a 17.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 20.30% of the stock is currently owned by corporate 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.