Meeder Asset Management Inc. Invests $44,000 in Stitch Fix, Inc. (NASDAQ:SFIX)

Meeder Asset Management Inc. acquired a new position in shares of Stitch Fix, Inc. (NASDAQ:SFIX) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 15,538 shares of the company’s stock, valued at approximately $44,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pallas Capital Advisors LLC acquired a new position in Stitch Fix in the 2nd quarter valued at about $48,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Stitch Fix in the 2nd quarter valued at about $46,000. Caprock Group LLC purchased a new stake in Stitch Fix during the third quarter worth approximately $33,000. CWM LLC lifted its stake in Stitch Fix by 132.5% during the second quarter. CWM LLC now owns 11,867 shares of the company’s stock worth $49,000 after purchasing an additional 6,762 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Stitch Fix during the third quarter worth approximately $36,000. 71.04% of the stock is owned by institutional investors and hedge funds.

Stitch Fix Stock Up 2.4 %

NASDAQ:SFIX opened at $3.88 on Thursday. The business’s 50 day moving average is $3.26 and its two-hundred day moving average is $3.46. Stitch Fix, Inc. has a 52 week low of $2.06 and a 52 week high of $5.05. The company has a market cap of $492.14 million, a PE ratio of -3.59 and a beta of 1.87.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SFIX. Canaccord Genuity Group reduced their price objective on Stitch Fix from $4.50 to $3.50 and set a “hold” rating for the company in a research note on Wednesday, September 25th. Telsey Advisory Group reissued a “market perform” rating and issued a $4.00 target price on shares of Stitch Fix in a report on Wednesday, September 25th. Finally, UBS Group dropped their price objective on Stitch Fix from $3.80 to $2.80 and set a “neutral” rating on the stock in a report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat, Stitch Fix currently has an average rating of “Hold” and a consensus price target of $3.27.

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.