Meeder Asset Management Inc. Makes New Investment in Stitch Fix, Inc. (NASDAQ:SFIX)

Meeder Asset Management Inc. bought a new position in Stitch Fix, Inc. (NASDAQ:SFIX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,538 shares of the company’s stock, valued at approximately $44,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Caprock Group LLC bought a new position in Stitch Fix in the 3rd quarter worth about $33,000. Versor Investments LP bought a new position in Stitch Fix in the 3rd quarter worth about $96,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Stitch Fix in the third quarter valued at approximately $36,000. Creative Planning boosted its holdings in shares of Stitch Fix by 32.1% in the third quarter. Creative Planning now owns 25,477 shares of the company’s stock valued at $72,000 after acquiring an additional 6,194 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Stitch Fix by 112.1% in the third quarter. CWM LLC now owns 25,175 shares of the company’s stock valued at $71,000 after acquiring an additional 13,308 shares in the last quarter. Institutional investors own 71.04% of the company’s stock.

Stitch Fix Trading Up 2.4 %

NASDAQ:SFIX opened at $3.88 on Thursday. Stitch Fix, Inc. has a 1 year low of $2.06 and a 1 year high of $5.05. The firm’s fifty day simple moving average is $3.26 and its 200 day simple moving average is $3.46. The firm has a market capitalization of $492.14 million, a PE ratio of -3.59 and a beta of 1.87.

Stitch Fix (NASDAQ:SFIX) last posted its earnings results on Tuesday, September 24th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.07. Stitch Fix had a negative net margin of 9.63% and a negative return on equity of 40.62%. The business had revenue of $319.55 million for the quarter, compared to analyst estimates of $317.48 million. As a group, analysts anticipate that Stitch Fix, Inc. will post -0.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SFIX has been the subject of several recent research reports. Canaccord Genuity Group cut their target price on shares of Stitch Fix from $4.50 to $3.50 and set a “hold” rating for the company in a research note on Wednesday, September 25th. UBS Group cut their target price on shares of Stitch Fix from $3.80 to $2.80 and set a “neutral” rating for the company in a research note on Friday, October 11th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $4.00 target price on shares of Stitch Fix in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat.com, Stitch Fix currently has a consensus rating of “Hold” and an average price target of $3.27.

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.