Insider Monkey finished processing more than 700 13F filings made by hedge funds and prominent investors. These filings show these funds’ portfolio positions as of September 30. What do these smart investors think about Zumiez Inc. (NASDAQ:ZUMZ)?
Zumiez Inc. (NASDAQ:ZUMZ) shareholders have witnessed an increase in hedge fund interest in recent months. ZUMZ was in 12 hedge funds’ portfolios at the end of the third quarter of 2015. There were 11 hedge funds in our database with ZUMZ positions at the end of the previous quarter. At the end of this article we will also compare ZUMZ to other stocks including State National Companies Inc (NASDAQ:SNC), Infinity Pharmaceuticals Inc. (NASDAQ:INFI), and Myers Industries, Inc. (NYSE:MYE) to get a better sense of its popularity.
If you’d ask most market participants, hedge funds are seen as worthless, outdated investment vehicles of the past. While there are greater than 8000 funds in operation at present, Our researchers choose to focus on the crème de la crème of this group, approximately 700 funds. It is estimated that this group of investors watch over the lion’s share of all hedge funds’ total asset base, and by tracking their unrivaled stock picks, Insider Monkey has unsheathed many investment strategies that have historically outrun the S&P 500 index. Insider Monkey’s small-cap hedge fund strategy outperformed the S&P 500 index by 12 percentage points annually for a decade in their back tests.
Keeping this in mind, let’s take a look at the latest action encompassing Zumiez Inc. (NASDAQ:ZUMZ).
Hedge fund activity in Zumiez Inc. (NASDAQ:ZUMZ)
Heading into Q4, a total of 12 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 9% from the previous quarter. With the smart money’s capital changing hands, there exists an “upper tier” of key hedge fund managers who were upping their stakes meaningfully (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Chuck Royce’s Royce & Associates has the largest position in Zumiez Inc. (NASDAQ:ZUMZ), worth close to $4.3 million, amounting to less than 0.1% of its total 13F portfolio. Coming in second is Point72 Asset Management, managed by Steve Cohen, which holds an $4.2 million position; the fund has less than 0.1% of its 13F portfolio invested in the stock. Remaining professional money managers that are bullish comprise Richard Chilton’s Chilton Investment Company, Jim Simons’s Renaissance Technologies and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.