Stitch Fix (NASDAQ:SFIX) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Stitch Fix (NASDAQ:SFIX) from a buy rating to a hold rating in a research note released on Sunday.

Separately, Telsey Advisory Group restated a “market perform” rating and issued a $6.00 price objective on shares of Stitch Fix in a research note on Wednesday, June 11th.

Stitch Fix Trading Down 3.1%

SFIX stock opened at $3.74 on Friday. The stock has a market capitalization of $488.03 million, a PE ratio of -8.13 and a beta of 2.00. The stock’s 50 day simple moving average is $3.90 and its 200 day simple moving average is $4.16. Stitch Fix has a 12-month low of $2.21 and a 12-month high of $6.99.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Wednesday, June 11th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. Stitch Fix had a negative net margin of 4.44% and a negative return on equity of 18.15%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.18) earnings per share. On average, research analysts predict that Stitch Fix will post -0.44 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Stitch Fix

A number of institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new position in Stitch Fix during the fourth quarter valued at approximately $29,000. Wescott Financial Advisory Group LLC purchased a new position in Stitch Fix in the first quarter valued at $32,000. Bellecapital International Ltd. purchased a new position in Stitch Fix in the fourth quarter valued at $55,000. Polymer Capital Management US LLC purchased a new stake in shares of Stitch Fix during the fourth quarter worth about $82,000. Finally, Martingale Asset Management L P acquired a new position in shares of Stitch Fix in the 1st quarter worth approximately $85,000. 71.04% of the stock is owned by hedge funds and other institutional investors.

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.