Stitch Fix (NASDAQ:SFIX) Posts Earnings Results, Misses Estimates By $0.03 EPS

Stitch Fix (NASDAQ:SFIX) announced its earnings results on Monday. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03), MarketWatch Earnings reports. The firm had revenue of $375.80 million for the quarter, compared to analyst estimates of $371.24 million. Stitch Fix had a negative return on equity of 63.69% and a negative net margin of 13.74%. The company’s revenue for the quarter was down 22.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.65) EPS.

Stitch Fix Price Performance

Shares of NASDAQ:SFIX opened at $3.05 on Tuesday. The company has a market capitalization of $347.00 million, a price-to-earnings ratio of -1.41 and a beta of 2.24. The firm’s 50 day simple moving average is $4.12 and its 200 day simple moving average is $4.10. Stitch Fix has a fifty-two week low of $2.63 and a fifty-two week high of $6.03.

Insiders Place Their Bets

In other Stitch Fix news, insider Casey O’connor sold 9,262 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $4.21, for a total transaction of $38,993.02. Following the sale, the insider now directly owns 284,346 shares in the company, valued at approximately $1,197,096.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 28.51% of the company’s stock.

Institutional Trading of Stitch Fix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can acquired a new stake in shares of Stitch Fix in the second quarter valued at approximately $83,000. GSA Capital Partners LLP bought a new position in shares of Stitch Fix in the fourth quarter valued at $66,000. Prelude Capital Management LLC bought a new position in shares of Stitch Fix in the second quarter valued at $63,000. Advisor Group Holdings Inc. grew its stake in shares of Stitch Fix by 178.2% in the fourth quarter. Advisor Group Holdings Inc. now owns 20,170 shares of the company’s stock valued at $62,000 after buying an additional 12,920 shares in the last quarter. Finally, CI Private Wealth LLC bought a new position in shares of Stitch Fix in the fourth quarter valued at $58,000. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Telsey Advisory Group reiterated a “market perform” rating and set a $5.00 target price on shares of Stitch Fix in a research report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.06.

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.