Fred Alger Management LLC Reduces Position in RH (NYSE:RH)

Fred Alger Management LLC lowered its holdings in RH (NYSE:RH) by 89.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,564 shares of the company’s stock after selling 166,154 shares during the period. Fred Alger Management LLC owned about 0.11% of RH worth $4,782,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of RH. Texas Permanent School Fund Corp increased its holdings in RH by 25.3% during the 2nd quarter. Texas Permanent School Fund Corp now owns 16,765 shares of the company’s stock worth $4,098,000 after purchasing an additional 3,387 shares during the last quarter. Findell Capital Management LLC acquired a new stake in RH in the fourth quarter valued at $5,247,000. First Hawaiian Bank boosted its stake in RH by 116.2% during the 2nd quarter. First Hawaiian Bank now owns 5,718 shares of the company’s stock valued at $1,398,000 after acquiring an additional 3,073 shares during the last quarter. Entropy Technologies LP bought a new position in RH during the 1st quarter valued at $2,200,000. Finally, Artemis Investment Management LLP acquired a new position in RH during the 1st quarter worth $4,637,000. Institutional investors and hedge funds own 90.17% of the company’s stock.

Insider Buying and Selling at RH

In other news, Director Mark S. Demilio sold 2,000 shares of the stock in a transaction 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 transaction, the director now owns 10,914 shares of the company’s stock, valued at $3,714,034.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Stefan Duban sold 4,285 shares of the business’s stock in a transaction that occurred on 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. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark S. Demilio sold 2,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $340.30, for a total value of $680,600.00. Following the transaction, the director now directly owns 10,914 shares of the company’s stock, valued at $3,714,034.20. The disclosure for this sale can be found here. 28.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RH shares. Morgan Stanley upped their target price on shares of RH from $300.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. StockNews.com upgraded RH to a “sell” rating in a research note on Thursday, September 19th. Citigroup lifted their target price on RH from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Bank of America upped their price target on RH from $310.00 to $359.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $290.00 price objective on shares of RH in a research note on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $322.54.

RH Stock Performance

Shares of RH opened at $339.69 on Friday. RH has a 1 year low of $207.26 and a 1 year high of $354.86. The firm has a fifty day moving average of $275.42 and a 200-day moving average of $270.08. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 94.10, a price-to-earnings-growth ratio of 1.97 and a beta of 2.42.

RH (NYSE:RH) last posted its earnings results on Thursday, September 12th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.56 by $0.13. The firm had revenue of $829.66 million during the quarter, compared to analysts’ expectations of $824.52 million. RH had a net margin of 1.13% and a negative return on equity of 11.29%. RH’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.93 EPS. Analysts predict that RH will post 5.61 EPS for the current year.

RH Company 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.