Mackenzie Financial Corp Sells 9,522 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Mackenzie Financial Corp cut its holdings in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 31.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,077 shares of the company’s stock after selling 9,522 shares during the period. Mackenzie Financial Corp’s holdings in Stitch Fix were worth $87,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SFIX. Pallas Capital Advisors LLC bought a new position in Stitch Fix in the 2nd quarter valued at $48,000. Baader Bank Aktiengesellschaft acquired a new stake in Stitch Fix during the 2nd quarter worth $46,000. CWM LLC raised its stake in Stitch Fix by 132.5% during the 2nd 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. Sei Investments Co. acquired a new stake in Stitch Fix during the 2nd quarter worth $81,000. Finally, SG Americas Securities LLC raised its stake in shares of Stitch Fix by 92.3% in the 2nd quarter. SG Americas Securities LLC now owns 19,780 shares of the company’s stock valued at $82,000 after purchasing an additional 9,494 shares during the period. 71.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Matt Baer sold 44,230 shares of Stitch Fix stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $5.00, for a total transaction of $221,150.00. Following the completion of the transaction, the chief executive officer now owns 973,769 shares in the company, valued at approximately $4,868,845. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Katrina Lake sold 537,007 shares of Stitch Fix stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $5.01, for a total value of $2,690,405.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matt Baer sold 44,230 shares of Stitch Fix stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $5.00, for a total transaction of $221,150.00. Following the completion of the sale, the chief executive officer now owns 973,769 shares of the company’s stock, valued at approximately $4,868,845. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 584,282 shares of company stock worth $2,926,658. Company insiders own 25.90% of the company’s stock.

Analyst Ratings Changes

SFIX has been the topic of several recent research reports. Telsey Advisory Group reissued a “market perform” rating and issued a $4.00 price target on shares of Stitch Fix in a research note on Wednesday, September 25th. Canaccord Genuity Group dropped their price target on Stitch Fix from $4.50 to $3.50 and set a “hold” rating on the stock in a research note on Wednesday, September 25th. Finally, UBS Group lifted their price target on Stitch Fix from $2.80 to $3.80 and gave the company a “neutral” rating in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat, Stitch Fix presently has a consensus rating of “Hold” and a consensus price target of $3.36.

Stitch Fix Price Performance

Shares of NASDAQ SFIX opened at $2.69 on Wednesday. Stitch Fix, Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $5.05. The stock has a market capitalization of $329.10 million, a price-to-earnings ratio of -2.64 and a beta of 1.90. The business has a 50-day moving average of $3.50 and a 200-day moving average of $3.25.

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.