What do Hedge Funds Think of Zumiez Inc. (ZUMZ)?

As industrywide interest jumped, key money managers have been driving this bullishness. Point72 Asset Management, managed by Steve Cohen, assembled the most outsized position in Zumiez Inc. (NASDAQ:ZUMZ). Point72 Asset Management had $4.2 million invested in the company at the end of the quarter. Richard Chilton’s Chilton Investment Company also made an $2.7 million investment in the stock during the quarter. The following funds were also among the new ZUMZ investors: Glenn Russell Dubin’s Highbridge Capital Management, Ken Gray and Steve Walsh’s Bryn Mawr Capital, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Zumiez Inc. (NASDAQ:ZUMZ) but similarly valued. We will take a look at State National Companies Inc (NASDAQ:SNC), Infinity Pharmaceuticals Inc. (NASDAQ:INFI), Myers Industries, Inc. (NYSE:MYE), and Omeros Corporation (NASDAQ:OMER). This group of stocks’ market valuations are closest to ZUMZ’s market valuation.

As you can see these stocks had an average of 12.25 hedge funds with bullish positions and the average amount invested in these stocks was $95 million. That figure was $18 million in ZUMZ’s case. Infinity Pharmaceuticals Inc. (NASDAQ:INFI) is the most popular stock in this table. On the other hand Myers Industries, Inc. (NYSE:MYE) is the least popular one with only 7 bullish hedge fund positions. Zumiez Inc. (NASDAQ:ZUMZ) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard INFI might be a better candidate to consider a long position.