Divisar Capital Management LLC Sells 3,834,300 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Divisar Capital Management LLC trimmed its holdings in Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 62.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,290,220 shares of the company's stock after selling 3,834,300 shares during the period. Stitch Fix accounts for about 2.1% of Divisar Capital Management LLC's portfolio, making the stock its 18th biggest holding. Divisar Capital Management LLC owned approximately 1.81% of Stitch Fix worth $9,871,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SFIX. Rhumbline Advisers boosted its holdings in shares of Stitch Fix by 1.5% during the fourth quarter. Rhumbline Advisers now owns 149,625 shares of the company's stock worth $645,000 after acquiring an additional 2,255 shares during the period. Corebridge Financial Inc. boosted its stake in Stitch Fix by 4.8% in the 4th quarter. Corebridge Financial Inc. now owns 50,355 shares of the company's stock valued at $217,000 after purchasing an additional 2,295 shares during the period. Federated Hermes Inc. grew its holdings in Stitch Fix by 4.1% in the 4th quarter. Federated Hermes Inc. now owns 96,504 shares of the company's stock valued at $416,000 after buying an additional 3,771 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Stitch Fix in the 4th quarter valued at $29,000. Finally, Cerity Partners LLC increased its position in Stitch Fix by 31.1% during the 4th quarter. Cerity Partners LLC now owns 29,452 shares of the company's stock worth $124,000 after buying an additional 6,993 shares during the period. 71.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Stitch Fix

In other news, insider Casey O'connor sold 50,000 shares of Stitch Fix stock in a transaction on Monday, April 14th. The stock was sold at an average price of $3.04, for a total value of $152,000.00. Following the transaction, the insider now owns 575,755 shares in the company, valued at approximately $1,750,295.20. This trade represents a 7.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 16.95% of the company's stock.

Stitch Fix Stock Performance

Shares of NASDAQ SFIX traded down $0.01 during mid-day trading on Friday, reaching $3.33. The company had a trading volume of 1,462,273 shares, compared to its average volume of 2,459,900. Stitch Fix, Inc. has a one year low of $2.10 and a one year high of $6.99. The business's 50-day simple moving average is $3.51 and its 200 day simple moving average is $4.06. The firm has a market cap of $428.89 million, a price-to-earnings ratio of -4.01 and a beta of 2.00.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last released its earnings results on Tuesday, March 11th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The firm had revenue of $312.11 million for the quarter, compared to analyst estimates of $298.04 million. During the same period last year, the firm earned ($0.29) EPS. The business's quarterly revenue was down 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Stitch Fix, Inc. will post -0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group restated a "market perform" rating and issued a $6.00 price target on shares of Stitch Fix in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $4.50.

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.