Stitch Fix (NASDAQ:SFIX) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Stitch Fix (NASDAQ:SFIX) issued its quarterly earnings data on Wednesday. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.05, Briefing.com reports. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.18) earnings per share.

Stitch Fix Stock Down 4.4%

Shares of SFIX stock opened at $4.09 on Friday. Stitch Fix has a 52-week low of $2.21 and a 52-week high of $6.99. The business has a 50-day simple moving average of $3.76 and a 200-day simple moving average of $4.21. The stock has a market cap of $526.78 million, a PE ratio of -4.93 and a beta of 2.00.

Insider Activity at Stitch Fix

In related news, major shareholder Working Capital Advisors (Uk) sold 1,370,931 shares of Stitch Fix stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $4.68, for a total value of $6,415,957.08. Following the completion of the transaction, the insider now owns 10,608,822 shares in the company, valued at $49,649,286.96. The trade was a 11.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Casey O’connor sold 50,000 shares of Stitch Fix stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $3.04, for a total value of $152,000.00. Following the completion of the transaction, the insider now owns 575,755 shares of the company’s stock, valued at approximately $1,750,295.20. This represents a 7.99% decrease in their position. The disclosure for this sale can be found here. 16.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Stitch Fix

An institutional investor recently raised its position in Stitch Fix stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Stitch Fix, Inc. (NASDAQ:SFIX) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,270 shares of the company’s stock after purchasing an additional 3,993 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Stitch Fix were worth $199,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 71.04% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 price objective on shares of Stitch Fix in a report on Wednesday.

Stitch Fix Company Profile

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.