Public Employees Retirement System of Ohio Purchases 140,515 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Public Employees Retirement System of Ohio raised its position in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 2,253.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 146,750 shares of the company’s stock after purchasing an additional 140,515 shares during the quarter. Public Employees Retirement System of Ohio owned 0.12% of Stitch Fix worth $414,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Caprock Group LLC bought a new stake in Stitch Fix during the third quarter valued at approximately $33,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Stitch Fix during the 3rd quarter valued at $36,000. Meeder Asset Management Inc. purchased a new stake in shares of Stitch Fix in the 3rd quarter worth $44,000. Sei Investments Co. bought a new position in Stitch Fix in the 2nd quarter worth $81,000. Finally, SG Americas Securities LLC lifted its position in Stitch Fix by 92.3% during the second quarter. SG Americas Securities LLC now owns 19,780 shares of the company’s stock valued at $82,000 after purchasing an additional 9,494 shares in the last quarter. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on SFIX. UBS Group raised their price objective on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group lifted their price target on shares of Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Finally, Telsey Advisory Group increased their price objective on shares of Stitch Fix from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, Stitch Fix presently has an average rating of “Hold” and a consensus price target of $3.96.

Stitch Fix Trading Up 2.2 %

NASDAQ:SFIX opened at $3.79 on Friday. The business’s 50-day moving average is $3.84 and its 200 day moving average is $3.78. Stitch Fix, Inc. has a 12 month low of $2.06 and a 12 month high of $6.99. The company has a market capitalization of $480.72 million, a P/E ratio of -4.57 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The company had revenue of $318.82 million for the quarter, compared to the consensus estimate of $306.88 million. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. Stitch Fix’s revenue was down 12.6% on a year-over-year basis. On average, research analysts forecast that Stitch Fix, Inc. will post -0.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Anthony Bacos sold 16,720 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $4.61, for a total value of $77,079.20. Following the completion of the sale, the insider now owns 913,962 shares in the company, valued at approximately $4,213,364.82. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katrina Lake sold 725,002 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $5.78, for a total value of $4,190,511.56. The disclosure for this sale can be found here. 16.95% of the stock is currently owned by insiders.

About Stitch Fix

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.