Polymer Capital Management US LLC Purchases New Shares in Stitch Fix, Inc. (NASDAQ:SFIX)

Polymer Capital Management US LLC acquired a new position in shares of Stitch Fix, Inc. (NASDAQ:SFIX) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 18,951 shares of the company’s stock, valued at approximately $82,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Ieq Capital LLC bought a new position in shares of Stitch Fix in the 4th quarter worth about $299,000. JPMorgan Chase & Co. increased its position in shares of Stitch Fix by 72.7% in the third quarter. JPMorgan Chase & Co. now owns 161,225 shares of the company’s stock worth $455,000 after acquiring an additional 67,892 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Stitch Fix by 2,253.6% in the third quarter. Public Employees Retirement System of Ohio now owns 146,750 shares of the company’s stock worth $414,000 after acquiring an additional 140,515 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of Stitch Fix in the fourth quarter worth approximately $365,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Stitch Fix by 46.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 732,990 shares of the company’s stock worth $3,159,000 after acquiring an additional 233,848 shares in the last quarter. 71.04% of the stock is owned by institutional investors and hedge funds.

Stitch Fix Stock Performance

SFIX stock opened at $3.16 on Thursday. The stock has a market cap of $407.00 million, a P/E ratio of -3.81 and a beta of 2.03. The firm has a 50 day simple moving average of $4.17 and a 200 day simple moving average of $4.02. Stitch Fix, Inc. has a 52 week low of $2.06 and a 52 week high of $6.99.

Stitch Fix (NASDAQ:SFIX) last posted its earnings results on Tuesday, March 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. The firm had revenue of $312.11 million during the quarter, compared to analysts’ expectations of $298.04 million. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The company’s revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.29) earnings per share. Sell-side analysts predict that Stitch Fix, Inc. will post -0.44 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on SFIX. Canaccord Genuity Group lifted their target price on shares of Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Telsey Advisory Group restated a “market perform” rating and set a $6.00 price target on shares of Stitch Fix in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.