Stitch Fix, Inc. (NASDAQ:SFIX) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Stitch Fix, Inc. (NASDAQ:SFIX) by 32.0% during the third quarter, HoldingsChannel reports. The firm owned 499,142 shares of the company’s stock after acquiring an additional 121,084 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Stitch Fix were worth $1,408,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SFIX. Disciplined Growth Investors Inc. MN boosted its stake in Stitch Fix by 34.9% during the second quarter. Disciplined Growth Investors Inc. MN now owns 9,273,817 shares of the company’s stock worth $38,486,000 after buying an additional 2,396,920 shares during the last quarter. Hodges Capital Management Inc. grew its holdings in shares of Stitch Fix by 286.2% in the second quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock valued at $10,421,000 after purchasing an additional 1,860,950 shares during the period. Renaissance Technologies LLC increased its position in Stitch Fix by 11.7% during the second quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock worth $18,395,000 after purchasing an additional 465,900 shares during the last quarter. XTX Topco Ltd purchased a new position in Stitch Fix during the second quarter worth about $502,000. Finally, Algert Global LLC acquired a new position in Stitch Fix in the 2nd quarter valued at about $290,000. 71.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Stitch Fix Price Performance

SFIX stock opened at $4.64 on Wednesday. The business’s 50-day moving average is $3.30 and its two-hundred day moving average is $3.51. The firm has a market capitalization of $588.54 million, a P/E ratio of -4.19 and a beta of 1.87. Stitch Fix, Inc. has a 1 year low of $2.06 and a 1 year high of $5.05.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings results on Tuesday, September 24th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate 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 company had revenue of $319.55 million during the quarter, compared to analysts’ expectations of $317.48 million. On average, analysts expect that Stitch Fix, Inc. will post -0.61 EPS for the current year.

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.