Short Interest in Stitch Fix Inc (NASDAQ:SFIX) Rises By 9.1%

Stitch Fix Inc (NASDAQ:SFIX) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 13,564,600 shares, a growth of 9.1% from the June 30th total of 12,434,000 shares. Currently, 34.6% of the shares of the company are short sold. Based on an average daily trading volume, of 3,030,000 shares, the short-interest ratio is presently 4.5 days.

In other Stitch Fix news, major shareholder Alexandre Balkanski sold 191,332 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $28.05, for a total transaction of $5,366,862.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Katrina Lake sold 100,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $23.36, for a total value of $2,336,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,037 shares of company stock worth $29,669,407 in the last quarter. Company insiders own 56.97% of the company’s stock.

A number of hedge funds have recently modified their holdings of SFIX. Weaver Consulting Group bought a new stake in shares of Stitch Fix during the first quarter valued at approximately $28,000. Captrust Financial Advisors increased its holdings in shares of Stitch Fix by 392.0% during the second quarter. Captrust Financial Advisors now owns 1,230 shares of the company’s stock valued at $39,000 after acquiring an additional 980 shares in the last quarter. Bell Rock Capital LLC bought a new stake in shares of Stitch Fix during the second quarter valued at approximately $51,000. Botty Investors LLC bought a new stake in shares of Stitch Fix during the first quarter valued at approximately $61,000. Finally, Valeo Financial Advisors LLC increased its holdings in shares of Stitch Fix by 30.3% during the second quarter. Valeo Financial Advisors LLC now owns 2,159 shares of the company’s stock valued at $69,000 after acquiring an additional 502 shares in the last quarter. Institutional investors and hedge funds own 29.83% of the company’s stock.

SFIX has been the topic of a number of recent analyst reports. Stifel Nicolaus upgraded Stitch Fix from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Monday, July 22nd. Royal Bank of Canada decreased their price target on Stitch Fix from $52.00 to $43.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. TheStreet upgraded Stitch Fix from a “d” rating to a “c-” rating in a research report on Wednesday, June 26th. SunTrust Banks raised their price target on Stitch Fix from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, JPMorgan Chase & Co. raised their price objective on Stitch Fix from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, June 6th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $35.50.

Shares of Stitch Fix stock traded down $0.54 during midday trading on Thursday, reaching $20.25. The company had a trading volume of 2,808,174 shares, compared to its average volume of 2,366,919. The stock has a fifty day moving average price of $27.12 and a 200 day moving average price of $26.73. The firm has a market cap of $2.22 billion, a PE ratio of 51.92, a P/E/G ratio of 3.64 and a beta of 3.20. Stitch Fix has a fifty-two week low of $16.05 and a fifty-two week high of $52.44.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings data on Wednesday, June 5th. The company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.10. The company had revenue of $409.00 million for the quarter, compared to analyst estimates of $395.06 million. Stitch Fix had a return on equity of 13.77% and a net margin of 3.27%. The firm’s quarterly revenue was up 29.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 earnings per share. Research analysts forecast that Stitch Fix will post 0.32 earnings per share for the current fiscal year.

About Stitch Fix

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc. and changed its name to Stitch Fix, Inc in October 2011.

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