Weiss Asset Management LP Takes Position in RH (NYSE:RH)

Weiss Asset Management LP purchased a new position in shares of RH (NYSE:RH) during the third quarter, Holdings Channel reports. The firm purchased 1,692 shares of the company’s stock, valued at approximately $566,000.

A number of other hedge funds have also recently added to or reduced their stakes in RH. Anomaly Capital Management LP increased its stake in RH by 503.6% in the second quarter. Anomaly Capital Management LP now owns 349,227 shares of the company’s stock valued at $85,365,000 after purchasing an additional 291,368 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of RH by 18.0% during the second quarter. Dimensional Fund Advisors LP now owns 270,993 shares of the company’s stock worth $66,239,000 after buying an additional 41,242 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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 worth $82,206,000 after buying an additional 18,563 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in RH by 26.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 184,834 shares of the company’s stock valued at $61,814,000 after acquiring an additional 38,572 shares during the period. Finally, Marshall Wace LLP raised its stake in RH by 58.6% during the 2nd quarter. Marshall Wace LLP now owns 174,324 shares of the company’s stock valued at $42,612,000 after acquiring an additional 64,423 shares during the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $290.00 target price on shares of RH in a report on Tuesday, September 10th. BNP Paribas reissued an “underperform” rating and issued a $253.00 price objective on shares of RH in a research note on Wednesday, November 13th. Wedbush upgraded shares of RH from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $310.00 to $430.00 in a research note on Monday, October 21st. Loop Capital boosted their price target on shares of RH from $230.00 to $320.00 and gave the stock a “hold” rating in a research note on Monday, September 16th. Finally, Bank of America raised their price objective on shares of RH from $310.00 to $359.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, RH currently has an average rating of “Hold” and a consensus target price of $332.73.

RH Stock Up 1.5 %

Shares of RH stock opened at $376.10 on Monday. RH has a fifty-two week low of $212.43 and a fifty-two week high of $398.22. The business has a fifty day simple moving average of $341.02 and a 200-day simple moving average of $292.94. The stock has a market cap of $6.94 billion, a P/E ratio of 221.24, a P/E/G ratio of 2.15 and a beta of 2.44.

RH (NYSE:RH) last issued its quarterly earnings data on Thursday, September 12th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.13. RH had a net margin of 1.13% and a negative return on equity of 11.29%. The business had revenue of $829.66 million during the quarter, compared to analysts’ expectations of $824.52 million. During the same period last year, the company posted $3.93 EPS. The company’s revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that RH will post 5.63 earnings per share for the current year.

Insider Transactions at RH

In other news, insider Edward T. Lee sold 2,000 shares of RH stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $353.57, for a total transaction of $707,140.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stefan Duban sold 4,285 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $346.37, for a total transaction of $1,484,195.45. Following the completion of the transaction, the insider now directly owns 78 shares of the company’s stock, valued at approximately $27,016.86. This represents a 98.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,285 shares of company stock valued at $2,871,935 over the last three months. 28.10% of the stock is currently owned by insiders.

RH Profile

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.