Allspring Global Investments Holdings LLC Sells 108,817 Shares of RH (NYSE:RH)

Allspring Global Investments Holdings LLC cut its holdings in RH (NYSE:RH) by 37.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 182,969 shares of the company’s stock after selling 108,817 shares during the period. Allspring Global Investments Holdings LLC’s holdings in RH were worth $63,721,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Creekmur Asset Management LLC bought a new position in RH in the 4th quarter worth approximately $25,000. Benjamin F. Edwards & Company Inc. bought a new position in RH in the 4th quarter worth approximately $35,000. Quest Partners LLC bought a new position in RH in the 4th quarter worth approximately $37,000. Global Retirement Partners LLC boosted its holdings in RH by 120.3% in the 4th quarter. Global Retirement Partners LLC now owns 141 shares of the company’s stock worth $41,000 after buying an additional 77 shares during the period. Finally, Tradition Wealth Management LLC boosted its holdings in RH by 14.8% in the 4th quarter. Tradition Wealth Management LLC now owns 350 shares of the company’s stock worth $102,000 after buying an additional 45 shares during the period. 90.17% of the stock is owned by institutional investors.

Insider Buying and Selling

In other RH news, CEO Gary G. Friedman bought 34,200 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were bought at an average price of $215.00 per share, for a total transaction of $7,353,000.00. Following the transaction, the chief executive officer now directly owns 3,339,263 shares in the company, valued at $717,941,545. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other RH news, Director Mark S. Demilio sold 1,000 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $288.99, for a total value of $288,990.00. Following the transaction, the director now owns 11,991 shares in the company, valued at $3,465,279.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary G. Friedman acquired 34,200 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was purchased at an average price of $215.00 per share, for a total transaction of $7,353,000.00. Following the transaction, the chief executive officer now directly owns 3,339,263 shares of the company’s stock, valued at approximately $717,941,545. The disclosure for this purchase can be found here. 28.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on RH. Oppenheimer reissued a “market perform” rating on shares of RH in a report on Monday, April 1st. Loop Capital cut their price target on shares of RH from $350.00 to $230.00 and set a “hold” rating for the company in a report on Monday, June 17th. The Goldman Sachs Group cut their price target on shares of RH from $264.00 to $226.00 and set a “sell” rating for the company in a report on Monday, June 17th. Barclays raised their price target on shares of RH from $293.00 to $340.00 and gave the company an “equal weight” rating in a report on Monday, April 1st. Finally, Bank of America cut their price target on shares of RH from $375.00 to $325.00 and set a “buy” rating for the company in a report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $310.46.

RH Stock Up 4.5 %

Shares of NYSE:RH opened at $249.50 on Wednesday. The stock has a market cap of $4.60 billion, a PE ratio of 69.11, a PEG ratio of 0.91 and a beta of 2.42. The company’s fifty day moving average is $259.17 and its 200 day moving average is $270.10. RH has a 52 week low of $207.26 and a 52 week high of $406.38.

RH (NYSE:RH) last issued its earnings results on Thursday, June 13th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.32). The business had revenue of $726.96 million during the quarter, compared to analysts’ expectations of $725.15 million. RH had a negative return on equity of 29.15% and a net margin of 2.72%. RH’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 EPS. Sell-side analysts anticipate that RH will post 8.15 EPS for the current year.

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.