Hodges Capital Management Inc. Sells 303,906 Shares of Stitch Fix, Inc. $SFIX

Hodges Capital Management Inc. decreased its position in Stitch Fix, Inc. (NASDAQ:SFIX) by 17.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,433,650 shares of the company’s stock after selling 303,906 shares during the quarter. Hodges Capital Management Inc.’s holdings in Stitch Fix were worth $7,527,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in Stitch Fix by 52.1% in the 4th quarter. Farther Finance Advisors LLC now owns 9,719 shares of the company’s stock worth $51,000 after buying an additional 3,329 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in Stitch Fix in the 3rd quarter worth approximately $50,000. Creative Planning bought a new stake in Stitch Fix in the 2nd quarter worth approximately $46,000. Hudson Bay Capital Management LP bought a new stake in Stitch Fix in the 3rd quarter worth approximately $61,000. Finally, Pallas Capital Advisors LLC lifted its position in Stitch Fix by 32.2% in the 4th quarter. Pallas Capital Advisors LLC now owns 14,085 shares of the company’s stock worth $74,000 after buying an additional 3,428 shares during the last quarter. Institutional investors own 71.04% of the company’s stock.

Stitch Fix Stock Performance

Shares of SFIX stock opened at $3.60 on Thursday. Stitch Fix, Inc. has a fifty-two week low of $2.95 and a fifty-two week high of $5.94. The stock has a 50 day moving average price of $3.47 and a two-hundred day moving average price of $4.06. The company has a market capitalization of $491.48 million, a P/E ratio of -27.69 and a beta of 2.31.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Wednesday, June 10th. The company reported ($0.01) earnings per share for the quarter, beating 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 firm had revenue of $340.28 million during the quarter, compared to the consensus estimate of $333.51 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts predict that Stitch Fix, Inc. will post -0.19 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. UBS Group dropped their target price on Stitch Fix from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Telsey Advisory Group dropped their target price on Stitch Fix from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Thursday, March 12th. William Blair restated a “mixed” rating on shares of Stitch Fix in a research report on Friday, March 6th. Northland Securities assumed coverage on Stitch Fix in a research report on Thursday, May 28th. They issued an “outperform” rating and a $5.00 target price for the company. Finally, Wall Street Zen downgraded Stitch Fix from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. One equities 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.00.

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.

Insider Activity at Stitch Fix

In other Stitch Fix news, CFO David Aufderhaar sold 65,709 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $3.09, for a total value of $203,040.81. Following the completion of the sale, the chief financial officer owned 1,178,037 shares in the company, 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 SEC, which can be accessed through this hyperlink. 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 that occurred on Friday, April 10th. The shares were sold at an average price of $3.08, for a total value of $184,800.00. Following the completion of the sale, the insider 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.09% of the company’s stock.

Stitch Fix Profile

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.