Tower Research Capital LLC TRC Raises Position in Stitch Fix, Inc. (NASDAQ:SFIX)

Tower Research Capital LLC TRC grew its position in Stitch Fix, Inc. (NASDAQ:SFIX) by 232.2% during the 4th quarter, Holdings Channel reports. The fund owned 10,898 shares of the company’s stock after buying an additional 7,617 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Stitch Fix were worth $39,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Stitch Fix by 4.1% during the third quarter. Vanguard Group Inc. now owns 5,856,137 shares of the company’s stock worth $20,204,000 after buying an additional 231,975 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Stitch Fix by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,021,885 shares of the company’s stock worth $7,218,000 after acquiring an additional 99,914 shares during the last quarter. Kent Lake Capital LLC acquired a new position in Stitch Fix during the third quarter worth about $2,932,000. Essex Investment Management Co. LLC acquired a new position in shares of Stitch Fix in the third quarter valued at approximately $1,182,000. Finally, Jump Financial LLC raised its position in shares of Stitch Fix by 74.7% in the third quarter. Jump Financial LLC now owns 251,400 shares of the company’s stock valued at $867,000 after buying an additional 107,525 shares during the last quarter. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wedbush cut their price objective on shares of Stitch Fix from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. Wells Fargo & Company cut their price objective on shares of Stitch Fix from $3.50 to $3.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 5th. UBS Group initiated coverage on shares of Stitch Fix in a research report on Monday, April 8th. They issued a “neutral” rating and a $2.80 price objective for the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $4.00 price target on shares of Stitch Fix in a research report on Tuesday, March 5th. Finally, Truist Financial dropped their price target on shares of Stitch Fix from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Tuesday, March 5th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Based on data from MarketBeat, Stitch Fix has a consensus rating of “Hold” and a consensus target price of $3.16.

Stitch Fix Trading Up 2.3 %

SFIX traded up $0.05 during trading on Thursday, hitting $2.19. 1,884,021 shares of the company’s stock were exchanged, compared to its average volume of 1,541,810. Stitch Fix, Inc. has a 1 year low of $2.06 and a 1 year high of $5.20. The stock has a 50 day moving average price of $2.49 and a 200 day moving average price of $3.15. The firm has a market cap of $263.17 million, a P/E ratio of -2.13 and a beta of 1.94.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings data on Monday, March 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.21). Stitch Fix had a negative net margin of 8.29% and a negative return on equity of 39.98%. The company had revenue of $330.40 million during the quarter, compared to the consensus estimate of $331.73 million. Analysts forecast that Stitch Fix, Inc. will post -0.81 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Sarah Barkema sold 16,311 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $2.24, for a total value of $36,536.64. Following the completion of the transaction, the chief accounting officer now directly owns 138,535 shares in the company, valued at $310,318.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 25.90% of the company’s stock.

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.