Stitch Fix (NASDAQ:SFIX) Announces Earnings Results, Beats Expectations By $0.05 EPS

Stitch Fix (NASDAQ:SFIX - Get Free Report) posted its earnings results on Wednesday. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.05, Briefing.com reports. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. Stitch Fix's quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.18) EPS.

Stitch Fix Price Performance

Shares of SFIX stock traded down $0.22 during trading on Thursday, reaching $4.07. The company's stock had a trading volume of 1,818,228 shares, compared to its average volume of 2,232,460. Stitch Fix has a 1-year low of $2.21 and a 1-year high of $6.99. The stock's 50-day moving average price is $3.74 and its 200 day moving average price is $4.21. The company has a market capitalization of $524.20 million, a price-to-earnings ratio of -4.90 and a beta of 2.00.

Wall Street Analysts Forecast Growth

Separately, 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.

Insiders Place Their Bets

In related news, insider Casey O'connor sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $3.04, for a total value of $152,000.00. Following the sale, the insider now owns 575,755 shares of the company's stock, valued at $1,750,295.20. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Working Capital Advisors (Uk) sold 1,370,931 shares of Stitch Fix stock in a transaction that occurred on 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 transaction, the insider now owns 10,608,822 shares of the company's stock, valued at $49,649,286.96. This represents a 11.44% decrease in their position. The disclosure for this sale can be found here. 16.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stitch Fix

A hedge fund recently raised its stake in Stitch Fix stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,270 shares of the company's stock after acquiring an additional 3,993 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Stitch Fix were worth $199,000 as of its most recent filing with the SEC. 71.04% of the stock is currently owned by institutional investors and hedge funds.

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.