Stitch Fix (NASDAQ:SFIX) Shares Down 4.4% – What’s Next?

Stitch Fix, Inc. (NASDAQ:SFIX) shares traded down 4.4% during mid-day trading on Thursday . The company traded as low as $5.04 and last traded at $5.04. 490,724 shares traded hands during trading, a decline of 83% from the average session volume of 2,833,298 shares. The stock had previously closed at $5.27.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Telsey Advisory Group raised their price target on shares of Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. UBS Group lifted their target price on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Canaccord Genuity Group raised their price objective on Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, Stitch Fix has a consensus rating of “Hold” and an average target price of $3.96.

Stitch Fix Trading Down 3.4 %

The stock’s 50-day moving average price is $4.39 and its 200-day moving average price is $3.89. The company has a market capitalization of $640.54 million, a P/E ratio of -6.08 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The business had revenue of $318.82 million for the quarter, compared to analysts’ expectations of $306.88 million. During the same period in the prior year, the firm earned ($0.30) EPS. The business’s quarterly revenue was down 12.6% on a year-over-year basis. Sell-side analysts expect that Stitch Fix, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Transactions at Stitch Fix

In related news, insider Anthony Bacos sold 16,720 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $4.61, for a total value of $77,079.20. Following the sale, the insider now directly owns 913,962 shares in the company, valued at $4,213,364.82. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katrina Lake sold 725,002 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total value of $4,190,511.56. The disclosure for this sale can be found here. Insiders own 16.95% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

Several large investors have recently bought and sold shares of SFIX. Creative Planning boosted its holdings in shares of Stitch Fix by 32.1% in the third quarter. Creative Planning now owns 25,477 shares of the company’s stock valued at $72,000 after acquiring an additional 6,194 shares in the last quarter. Federated Hermes Inc. lifted its position in Stitch Fix by 7.7% in the second quarter. Federated Hermes Inc. now owns 94,624 shares of the company’s stock worth $393,000 after purchasing an additional 6,739 shares during the period. Pallas Capital Advisors LLC bought a new position in Stitch Fix during the 4th quarter valued at $46,000. Virtus Investment Advisers Inc. increased its position in shares of Stitch Fix by 11.1% during the 3rd quarter. Virtus Investment Advisers Inc. now owns 117,185 shares of the company’s stock valued at $330,000 after purchasing an additional 11,735 shares during the period. Finally, Caprock Group LLC bought a new stake in shares of Stitch Fix in the 3rd quarter worth $33,000. Institutional investors and hedge funds own 71.04% of the company’s stock.

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.