Hodges Capital Management Inc. reduced its position in Stitch Fix, Inc. (NASDAQ:SFIX – Free Report) by 17.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,433,650 shares of the company’s stock after selling 303,906 shares during the period. Hodges Capital Management Inc. owned 1.07% of Stitch Fix worth $7,527,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in Stitch Fix by 52.1% in the 4th quarter. Farther Finance Advisors LLC now owns 9,719 shares of the company’s stock valued at $51,000 after acquiring an additional 3,329 shares during the period. Pallas Capital Advisors LLC grew its holdings in Stitch Fix by 32.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 14,085 shares of the company’s stock valued at $74,000 after buying an additional 3,428 shares in the last quarter. State of Wyoming grew its holdings in Stitch Fix by 31.9% during the 4th quarter. State of Wyoming now owns 16,001 shares of the company’s stock valued at $84,000 after buying an additional 3,866 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Stitch Fix by 7.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company’s stock valued at $199,000 after buying an additional 3,993 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Stitch Fix by 12.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,807 shares of the company’s stock valued at $147,000 after buying an additional 4,303 shares in the last quarter. 71.04% of the stock is currently owned by institutional investors.
Insider Activity
In other news, CFO David Aufderhaar sold 65,709 shares of the business’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $3.09, for a total transaction of $203,040.81. Following the completion of the transaction, the chief financial officer owned 1,178,037 shares of the company’s stock, valued at approximately $3,640,134.33. The trade was a 5.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Casey O’connor sold 60,000 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3.08, for a total value of $184,800.00. Following the transaction, the insider directly owned 480,334 shares of the company’s stock, valued at $1,479,428.72. The trade was a 11.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.09% of the stock is currently owned by insiders.
Stitch Fix Trading Down 0.6%
Stitch Fix (NASDAQ:SFIX – Get Free Report) last issued its quarterly earnings data on Wednesday, June 10th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.05. Stitch Fix had a negative return on equity of 12.23% and a negative net margin of 1.89%.The company had revenue of $340.28 million during the quarter, compared to analyst estimates of $333.51 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. Stitch Fix’s revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Stitch Fix, Inc. will post -0.19 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on SFIX shares. Northland Securities started coverage on Stitch Fix in a report on Thursday, May 28th. They set an “outperform” rating and a $5.00 target price for the company. William Blair reaffirmed a “mixed” rating on shares of Stitch Fix in a report on Friday, March 6th. Telsey Advisory Group reduced their target price on Stitch Fix from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Thursday, March 12th. UBS Group reduced their target price on Stitch Fix from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stitch Fix in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.00.
Get Our Latest Research Report on SFIX
Trending Headlines about Stitch Fix
Here are the key news stories impacting Stitch Fix this week:
- Positive Sentiment: Stitch Fix reported fiscal Q3 EPS of -$0.01, beating the consensus estimate of -$0.06, while revenue of $340.3 million topped expectations of $333.5 million. Article Title
- Positive Sentiment: Management said the company delivered its fifth consecutive quarter of year-over-year revenue growth on an adjusted basis, and that both revenue and adjusted EBITDA exceeded internal expectations, suggesting improving execution. Article Title
- Positive Sentiment: CEO Matt Baer said Stitch Fix’s revamp of personal shopping features helped reverse client declines, with quarter-over-quarter active client growth and improved revenue trends, which supports the market’s optimism about the turnaround. Article Title
- Neutral Sentiment: Stitch Fix updated fourth-quarter guidance for revenue of $322 million to $327 million, roughly around Wall Street’s expectation of $323.7 million, which suggests the company is not dramatically raising near-term expectations.
- Neutral Sentiment: Multiple earnings transcripts and recap articles focused on the same results, reinforcing the core message that the quarter was better than feared rather than introducing new catalysts. Article Title
- Negative Sentiment: Despite the beat, Stitch Fix remains unprofitable on a GAAP basis and issued only modest forward guidance, so investors may still be cautious about how quickly the turnaround can translate into sustained earnings power.
About Stitch Fix
Stitch Fix, Inc, headquartered in San Francisco, California, is a leading online personal styling service that blends data science with human expertise to deliver curated clothing and accessory selections. Founded in 2011 by Katrina Lake, the company pioneered a subscription-based model in which customers receive periodic “Fixes” tailored to their personal style, size and budget. Each shipment arrives with several handpicked items along with styling notes, allowing clients to review, purchase and return pieces at their convenience.
Clients begin by completing an online style profile that captures their measurements, design preferences and lifestyle needs.
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