Graham Capital Management L.P. Buys 175,287 Shares of Stitch Fix, Inc. $SFIX

Key Points

• Graham Capital Management L.P. increased its holdings in Stitch Fix by 133.3% during the first quarter, bringing its stock position to 306,765 shares valued at approximately $997,000.
• Insider Anthony Bacos sold 90,000 shares of Stitch Fix for $450,000, reducing his stake by 9.78%, while another insider, Casey O'Connor, decreased their position by 5.90% after selling 31,248 shares.
• Analysts have given Stitch Fix an average rating of "Hold" with a target price of $5.67, with recent fluctuations in ratings among several analysts affecting investor sentiment.

Graham Capital Management L.P. raised its position in Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 133.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 306,765 shares of the company's stock after buying an additional 175,287 shares during the quarter. Graham Capital Management L.P. owned about 0.24% of Stitch Fix worth $997,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in SFIX. Focus Partners Wealth acquired a new position in shares of Stitch Fix during the 4th quarter valued at about $1,183,000. Russell Investments Group Ltd. increased its stake in Stitch Fix by 29.2% during the first quarter. Russell Investments Group Ltd. now owns 328,342 shares of the company's stock valued at $1,067,000 after purchasing an additional 74,142 shares during the last quarter. Caption Management LLC acquired a new position in shares of Stitch Fix during the first quarter valued at $216,000. Point72 Asset Management L.P. bought a new stake in shares of Stitch Fix during the fourth quarter valued at about $353,000. Finally, Nuveen LLC bought a new stake in Stitch Fix in the first quarter worth about $4,159,000. 71.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SFIX. Zacks Research raised Stitch Fix to a "hold" rating in a research note on Monday, August 11th. Wall Street Zen cut Stitch Fix from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. William Blair upgraded Stitch Fix from a "market perform" rating to an "outperform" rating in a report on Monday, July 14th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $6.00 target price on shares of Stitch Fix in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.67.

Stitch Fix Stock Performance

Shares of Stitch Fix stock traded up $0.09 on Tuesday, hitting $5.79. The company had a trading volume of 501,847 shares, compared to its average volume of 2,185,566. The stock has a market capitalization of $754.88 million, a price-to-earnings ratio of -12.49 and a beta of 2.03. The stock has a 50 day moving average of $4.79 and a 200-day moving average of $4.15. Stitch Fix, Inc. has a 1 year low of $2.21 and a 1 year high of $6.99.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.05. Stitch Fix had a negative return on equity of 18.15% and a negative net margin of 4.44%.During the same period last year, the company earned ($0.18) earnings per share. The firm's quarterly revenue was up .7% compared to the same quarter last year. Equities analysts anticipate that Stitch Fix, Inc. will post -0.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Katrina Lake sold 453,485 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $5.06, for a total transaction of $2,294,634.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Anthony Bacos sold 90,000 shares of Stitch Fix stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $5.00, for a total value of $450,000.00. Following the sale, the insider directly owned 829,966 shares in the company, valued at approximately $4,149,830. The trade was a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 957,536 shares of company stock worth $4,845,302 in the last quarter. 16.95% of the stock is currently owned by company insiders.

Stitch Fix 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.