Alliancebernstein L.P. Has $143.15 Million Stock Position in RH (NYSE:RH)

Alliancebernstein L.P. raised its holdings in shares of RH (NYSE:RH) by 1,960.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 363,698 shares of the company’s stock after buying an additional 346,050 shares during the quarter. Alliancebernstein L.P. owned about 1.96% of RH worth $143,148,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RH. Virtu Financial LLC bought a new position in RH during the third quarter worth $4,268,000. Invst LLC bought a new position in shares of RH during the 3rd quarter worth about $752,000. Cerity Partners LLC raised its position in shares of RH by 139.7% during the third quarter. Cerity Partners LLC now owns 2,584 shares of the company’s stock valued at $864,000 after buying an additional 1,506 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of RH by 0.9% in the fourth quarter. Victory Capital Management Inc. now owns 50,684 shares of the company’s stock valued at $19,949,000 after buying an additional 445 shares during the period. Finally, L.M. Kohn & Company acquired a new stake in RH during the fourth quarter worth about $289,000. 90.17% of the stock is owned by institutional investors.

RH Price Performance

RH stock opened at $238.82 on Wednesday. The business has a fifty day moving average price of $327.08 and a 200 day moving average price of $351.62. RH has a fifty-two week low of $212.04 and a fifty-two week high of $457.26. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 68.63, a P/E/G ratio of 2.65 and a beta of 2.50.

Insider Activity

In other RH news, CAO Christina Hargarten sold 5,280 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $447.20, for a total transaction of $2,361,216.00. Following the transaction, the chief accounting officer now owns 484 shares of the company’s stock, valued at approximately $216,444.80. This represents a 91.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eri Chaya sold 10,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $416.27, for a total value of $4,162,700.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,380 shares of company stock worth $28,922,379. 28.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on RH. Robert W. Baird raised their price objective on RH from $300.00 to $400.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. The Goldman Sachs Group raised RH from a “sell” rating to a “neutral” rating and raised their target price for the stock from $261.00 to $374.00 in a research report on Thursday, January 30th. UBS Group decreased their price target on shares of RH from $440.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Wedbush dropped their price objective on shares of RH from $500.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company decreased their target price on shares of RH from $500.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, RH presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.13.

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.