Victory Capital Management Inc. Grows Position in RH (NYSE:RH)

Victory Capital Management Inc. grew its stake in shares of RH (NYSE:RH) by 77.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 128,711 shares of the company’s stock after purchasing an additional 55,999 shares during the quarter. Victory Capital Management Inc. owned approximately 0.70% of RH worth $31,462,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Findell Capital Management LLC purchased a new stake in RH in the fourth quarter worth $5,247,000. First Eagle Investment Management LLC lifted its stake in RH by 247.5% in the fourth quarter. First Eagle Investment Management LLC now owns 13,732 shares of the company’s stock worth $4,003,000 after acquiring an additional 9,780 shares during the period. First Hawaiian Bank lifted its stake in RH by 116.2% in the second quarter. First Hawaiian Bank now owns 5,718 shares of the company’s stock worth $1,398,000 after acquiring an additional 3,073 shares during the period. Entropy Technologies LP purchased a new stake in RH in the first quarter worth $2,200,000. Finally, Artemis Investment Management LLP purchased a new stake in RH in the first quarter worth $4,637,000. Hedge funds and other institutional investors own 90.17% of the company’s stock.

RH Price Performance

Shares of NYSE:RH opened at $244.09 on Wednesday. RH has a 1-year low of $207.26 and a 1-year high of $354.86. The business has a fifty day moving average price of $261.46 and a 200-day moving average price of $266.04. The company has a market capitalization of $4.50 billion, a PE ratio of 67.61, a PEG ratio of 1.07 and a beta of 2.42.

RH (NYSE:RH) last issued its quarterly earnings results on Thursday, June 13th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.32). RH had a net margin of 2.72% and a negative return on equity of 29.15%. The company had revenue of $726.96 million for the quarter, compared to the consensus estimate of $725.15 million. During the same quarter in the previous year, the business earned $2.21 earnings per share. RH’s revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that RH will post 7.4 earnings per share for the current fiscal year.

Insider Activity

In other RH news, CEO Gary G. Friedman acquired 34,200 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were bought at an average cost of $215.00 per share, with a total value of $7,353,000.00. Following the completion of 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 28.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on RH shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $290.00 price target on shares of RH in a research note on Tuesday. Stifel Nicolaus began coverage on RH in a research note on Tuesday, July 9th. They issued a “buy” rating and a $315.00 price target for the company. Morgan Stanley decreased their price objective on RH from $320.00 to $300.00 and set an “equal weight” rating for the company in a report on Monday, June 17th. Robert W. Baird decreased their price objective on RH from $300.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Finally, StockNews.com upgraded RH to a “sell” rating in a report on Friday, June 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $294.25.

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.