Stitch Fix (NASDAQ:SFIX) Announces Earnings Results

Stitch Fix (NASDAQ:SFIX) announced its quarterly earnings data on Thursday. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05), Zacks reports. Stitch Fix had a negative net margin of 2.27% and a negative return on equity of 14.57%.

Stitch Fix Stock Up 2.9%

Shares of NASDAQ:SFIX traded up $0.13 during trading on Thursday, reaching $4.69. 5,138,378 shares of the company’s stock traded hands, compared to its average volume of 2,365,125. Stitch Fix has a fifty-two week low of $2.60 and a fifty-two week high of $6.99. The company has a 50-day simple moving average of $4.29 and a 200-day simple moving average of $4.56. The firm has a market cap of $628.98 million, a PE ratio of -10.20 and a beta of 2.22.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SFIX. Weiss Ratings reissued a “sell (d-)” rating on shares of Stitch Fix in a report on Wednesday, October 8th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price target on shares of Stitch Fix in a research report on Monday. Zacks Research raised Stitch Fix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Sanford C. Bernstein restated a “market perform” rating and issued a $6.00 target price on shares of Stitch Fix in a research note on Thursday, September 25th. Finally, UBS Group reiterated a “neutral” rating on shares of Stitch Fix in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Stitch Fix currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Insider Transactions at Stitch Fix

In other Stitch Fix news, insider Anthony Bacos sold 90,000 shares of the stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $5.61, for a total transaction of $504,900.00. Following the transaction, the insider owned 799,966 shares in the company, valued at approximately $4,487,809.26. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Casey O’connor sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $4.41, for a total value of $220,500.00. Following the completion of the sale, the insider owned 431,441 shares of the company’s stock, valued at $1,902,654.81. This trade represents a 10.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 16.09% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

A number of large investors have recently added to or reduced their stakes in the stock. Creative Planning acquired a new stake in shares of Stitch Fix in the second quarter valued at about $46,000. CIBC Bancorp USA Inc. purchased a new position in Stitch Fix in the 3rd quarter valued at about $50,000. Inceptionr LLC acquired a new stake in Stitch Fix in the 3rd quarter worth about $72,000. Tower Research Capital LLC TRC increased its stake in Stitch Fix by 171.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 36,553 shares of the company’s stock worth $135,000 after buying an additional 23,066 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Stitch Fix by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 39,807 shares of the company’s stock valued at $147,000 after acquiring an additional 4,303 shares during the last quarter. 71.04% of the stock is currently owned by institutional investors and hedge funds.

About Stitch Fix

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.