Traders Buy Large Volume of Put Options on Zumiez (NASDAQ:ZUMZ)

Zumiez Inc. (NASDAQ:ZUMZ) was the recipient of some unusual options trading on Tuesday. Stock investors bought 3,368 put options on the company. This is an increase of approximately 3,337% compared to the typical daily volume of 98 put options.

Zumiez Price Performance

ZUMZ stock traded down $0.16 during midday trading on Tuesday, reaching $14.13. The company had a trading volume of 43,705 shares, compared to its average volume of 196,458. The firm has a 50-day moving average price of $16.00 and a 200-day moving average price of $17.30. Zumiez has a 1 year low of $12.90 and a 1 year high of $21.49.

Zumiez (NASDAQ:ZUMZ) last announced its earnings results on Thursday, March 14th. The apparel and footwear maker reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.14. Zumiez had a negative net margin of 7.15% and a negative return on equity of 5.70%. The company had revenue of $281.82 million during the quarter, compared to analyst estimates of $275.98 million. On average, analysts predict that Zumiez will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

ZUMZ has been the subject of a number of recent analyst reports. B. Riley reduced their price target on shares of Zumiez from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, March 20th. StockNews.com upgraded Zumiez from a “sell” rating to a “hold” rating in a research report on Friday.

Insider Activity

In other Zumiez news, insider Adam Christopher Ellis bought 10,000 shares of Zumiez stock in a transaction dated Thursday, April 4th. The stock was purchased at an average price of $14.31 per share, for a total transaction of $143,100.00. Following the completion of the purchase, the insider now directly owns 57,917 shares of the company’s stock, valued at $828,792.27. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 20.20% of the company’s stock.

Hedge Funds Weigh In On Zumiez

Several institutional investors have recently modified their holdings of ZUMZ. Mutual Advisors LLC bought a new stake in Zumiez in the 3rd quarter worth approximately $663,000. Hsbc Holdings PLC purchased a new position in shares of Zumiez during the third quarter worth approximately $300,000. Dark Forest Capital Management LP lifted its holdings in shares of Zumiez by 487.5% in the 3rd quarter. Dark Forest Capital Management LP now owns 62,536 shares of the apparel and footwear maker’s stock worth $1,113,000 after acquiring an additional 51,891 shares during the last quarter. PEAK6 Investments LLC lifted its holdings in shares of Zumiez by 23.7% in the 3rd quarter. PEAK6 Investments LLC now owns 16,083 shares of the apparel and footwear maker’s stock worth $286,000 after acquiring an additional 3,080 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Zumiez by 206.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 136,310 shares of the apparel and footwear maker’s stock valued at $2,426,000 after purchasing an additional 91,786 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

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.