Connor Clark & Lunn Investment Management Ltd. Purchases 233,848 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 46.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 732,990 shares of the company’s stock after purchasing an additional 233,848 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.58% of Stitch Fix worth $3,159,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of Stitch Fix in the fourth quarter valued at about $29,000. Caprock Group LLC bought a new stake in shares of Stitch Fix in the 3rd quarter valued at about $33,000. Meeder Asset Management Inc. purchased a new stake in shares of Stitch Fix in the 3rd quarter worth approximately $44,000. Pallas Capital Advisors LLC bought a new position in shares of Stitch Fix during the fourth quarter valued at approximately $46,000. Finally, Bellecapital International Ltd. purchased a new position in Stitch Fix during the fourth quarter valued at approximately $55,000. 71.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. UBS Group upped their target price on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price objective on shares of Stitch Fix in a research report on Wednesday, March 12th. Finally, Canaccord Genuity Group lifted their target price on Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, Stitch Fix has a consensus rating of “Hold” and an average target price of $4.50.

Stitch Fix Price Performance

Shares of SFIX stock opened at $3.59 on Tuesday. The stock’s fifty day moving average price is $4.82 and its 200 day moving average price is $4.08. Stitch Fix, Inc. has a 1-year low of $2.06 and a 1-year high of $6.99. The company has a market cap of $455.35 million, a price-to-earnings ratio of -4.33 and a beta of 2.13.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Tuesday, March 11th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The business had revenue of $312.11 million for the quarter, compared to analyst estimates of $298.04 million. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. The company’s revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Stitch Fix, Inc. will post -0.44 earnings per share 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.