Fred Alger Management LLC Sells 4,915 Shares of RH (NYSE:RH)

Fred Alger Management LLC lessened its holdings in RH (NYSE:RH) by 25.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,649 shares of the company’s stock after selling 4,915 shares during the period. Fred Alger Management LLC owned about 0.08% of RH worth $4,899,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Anomaly Capital Management LP boosted its holdings in shares of RH by 503.6% during the 2nd quarter. Anomaly Capital Management LP now owns 349,227 shares of the company’s stock valued at $85,365,000 after acquiring an additional 291,368 shares in the last quarter. Dimensional Fund Advisors LP raised its position in RH by 18.0% in the second quarter. Dimensional Fund Advisors LP now owns 270,993 shares of the company’s stock valued at $66,239,000 after purchasing an additional 41,242 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of RH by 8.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 245,810 shares of the company’s stock valued at $82,206,000 after purchasing an additional 18,563 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of RH by 26.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 184,834 shares of the company’s stock worth $61,814,000 after purchasing an additional 38,572 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in RH by 58.6% in the second quarter. Marshall Wace LLP now owns 174,324 shares of the company’s stock valued at $42,612,000 after purchasing an additional 64,423 shares during the period. Institutional investors and hedge funds own 90.17% of the company’s stock.

RH Price Performance

NYSE:RH opened at $385.14 on Friday. RH has a 1-year low of $212.43 and a 1-year high of $398.22. The firm has a market capitalization of $7.10 billion, a P/E ratio of 226.55, a PEG ratio of 2.18 and a beta of 2.43. The company’s fifty day moving average price is $337.50 and its 200-day moving average price is $289.41.

RH (NYSE:RH) last posted its quarterly earnings data on Thursday, September 12th. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.13. The business had revenue of $829.66 million during the quarter, compared to analysts’ expectations of $824.52 million. RH had a negative return on equity of 11.29% and a net margin of 1.13%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.93 earnings per share. Equities analysts anticipate that RH will post 5.66 EPS for the current fiscal year.

Insider Activity

In other RH news, Director Mark S. Demilio sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $340.30, for a total value of $680,600.00. Following the completion of the sale, the director now owns 10,914 shares in the company, valued at approximately $3,714,034.20. The trade was a 15.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stefan Duban sold 4,285 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $346.37, for a total transaction of $1,484,195.45. Following the sale, the insider now owns 78 shares of the company’s stock, valued at $27,016.86. This trade represents a 98.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,285 shares of company stock valued at $2,871,935. Company insiders own 28.10% of the company’s stock.

Analyst Ratings Changes

RH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of RH from $345.00 to $338.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Morgan Stanley lifted their price objective on RH from $300.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Barclays dropped their target price on RH from $340.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. TD Cowen increased their price target on shares of RH from $325.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $290.00 price objective on shares of RH in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $326.14.

About RH

RH, together with its subsidiaries, operates as a retailer in the home furnishings market. The company offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, baby, child, and teen furnishings. It provides its products through rh.com, rhbabyandchild.com, rhteen.com, rhmodern.com, and waterworks.com online channels, as well as operates RH Galleries, RH outlet stores, RH Guesthouse, and Waterworks showrooms in the United States, Canada, the United Kingdom, and Germany.