MetLife Investment Management LLC Sells 16,591 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

MetLife Investment Management LLC decreased its stake in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 31.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,864 shares of the company’s stock after selling 16,591 shares during the period. MetLife Investment Management LLC’s holdings in Stitch Fix were worth $101,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SFIX. Price T Rowe Associates Inc. MD increased its holdings in Stitch Fix by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,451 shares of the company’s stock worth $223,000 after purchasing an additional 5,404 shares in the last quarter. CWM LLC boosted its position in shares of 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 buying an additional 6,762 shares during the period. SG Americas Securities LLC boosted its position in shares of Stitch Fix by 92.3% during the second quarter. SG Americas Securities LLC now owns 19,780 shares of the company’s stock worth $82,000 after buying an additional 9,494 shares during the period. Baader Bank Aktiengesellschaft acquired a new stake in Stitch Fix in the 2nd quarter valued at approximately $46,000. Finally, Pallas Capital Advisors LLC bought a new stake in Stitch Fix in the 2nd quarter valued at approximately $48,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SFIX has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price objective on shares of Stitch Fix from $3.50 to $5.00 and gave the company a “hold” rating in a report on Monday, December 2nd. UBS Group lifted their price target on shares of Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $4.00 price objective on shares of Stitch Fix in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $3.57.

Stitch Fix Stock Performance

Shares of NASDAQ:SFIX opened at $4.58 on Tuesday. Stitch Fix, Inc. has a 52-week low of $2.06 and a 52-week high of $5.05. The company has a market capitalization of $580.92 million, a P/E ratio of -4.24 and a beta of 1.99. The company has a 50-day simple moving average of $3.53 and a 200 day simple moving average of $3.67.

Stitch Fix (NASDAQ:SFIX) last issued its 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 return on equity of 40.62% and a negative net margin of 9.63%. The company had revenue of $319.55 million during the quarter, compared to the consensus estimate of $317.48 million. As a group, equities analysts forecast that Stitch Fix, Inc. will post -0.61 earnings per share for the current year.

About Stitch Fix

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.