On September 10, 2023, it was reported that investment firm Cramer Rosenthal Mcglynn LLC had increased its holdings in RH (NYSE:RH) by 11.5% during the first quarter. This information was disclosed in the company’s recent filing with the Securities and Exchange Commission. Following the purchase of an additional 3,530 shares, Cramer Rosenthal Mcglynn LLC now owns a total of 34,299 shares of RH stock. At the end of the most recent quarter, these shares were valued at $8,354,000, accounting for approximately 0.16% of RH’s overall worth.
RH is a retailer in the home furnishings industry that operates under various brand names such as RH Galleries and RH. With its subsidiaries, it also operates Waterworks showrooms in the United States and the United Kingdom. The company offers a wide range of products including furniture, lighting, textiles, bathware, décor, outdoor and garden items, as well as child and teen furnishings.
Several research firms have provided their insights on RH. UBS Group lowered their price target on the stock from $350.00 to $340.00 while maintaining a “neutral” rating in a research note released on Friday. Morgan Stanley raised their price target on RH to $355.00 from $260.00 and gave it an “equal weight” rating in a research report published on Thursday, August 31st.
Loop Capital downgraded their rating from “buy” to “hold,” along with setting a price target of $300.00 for the stock in a report issued on Thursday, June 29th. StockNews.com initiated coverage on RH with a “hold” rating in their report released on Thursday, August 17th.
Barclays reduced their price target for RH from $277.00 to $256.00 in a research note published on Tuesday, May 30th. Overall, one analyst has given a sell rating, nine analysts have rated the stock as hold, and four analysts have recommended buying RH shares. According to data from Bloomberg, the average rating for RH is currently “Hold,” with an average price target of $327.38.
These updates on RH’s holdings by Cramer Rosenthal Mcglynn LLC, alongside the insights and recommendations from various research firms, provide investors with valuable information to make informed decisions regarding their investments in RH stock.
Please note that this article is purely informational and should not be considered as financial advice. Investing in stocks involves risks, and individuals should conduct their own research or consult with a professional advisor before making any investment decisions.
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Changes in Institutional Investor Positions: RH Sees Significant Stake Acquisitions and Insider Selling Activities
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”NVDA” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]RH, the well-known home furnishings retailer, has recently seen changes in its institutional investor positions. Several investors have made significant moves in acquiring stakes in the business. For instance, International Assets Investment Management LLC entered the picture in the first quarter by acquiring a new stake worth around $25,000. Global Retirement Partners LLC also increased its holdings in RH by 93.2% during the same period, now owning 114 shares valued at $29,000 after buying an additional 55 shares. Additionally, Kayne Anderson Rudnick Investment Management LLC invested $30,000 on RH shares during the third quarter.
FNY Investment Advisers LLC was another institutional investor that decided to purchase a stake in RH. The company bought shares amounting to $37,000 during the first quarter. KB Financial Partners LLC made a similar move and raised its stake by 61.6% during the same period—an investment worth $38,000.
These institutional investors and hedge funds collectively own approximately 84.47% of RH’s stock, demonstrating their belief in the company’s potential for growth and success.
In other news related to RH’s stocks, Edward T. Lee (an insider) sold 1,400 shares of the business’s stock on Tuesday, June 27th at an average price of $300 per share. This transaction resulted in a total value of $420,000. After completing this sale, Lee currently holds 2,624 shares of RH stock with an estimated value of $787,200.
Another notable sale involving an insider occurred on Tuesday, June 27th when director Mark S. Demilio sold off 2,000 shares at an average price of $305.24 per share—a transaction totaling $610,480. Post-transaction completion; Demilio owns 14,480 shares valued approximately at $4.,41987520.
Insider selling activities for this company have amounted to 4,400 shares over the past ninety days which translates to a total value of $1,310,470. It’s worth noting that company insiders now possess approximately 23.90% of RH’s stock.
RH operates as a retailer under RH Galleries and RH brand names in the District of Columbia and Canada while also having Waterworks showrooms across the United States and the United Kingdom. The company offers various products spanning furniture, lighting, textiles, bathware, décor, outdoor and garden items, as well as child and teen furnishings.
RH shares started at $310.95 on Friday. The business currently has a 50-day moving average of $367.30 and a 200-day moving average of $299.28. Over the past year, RH stock experienced fluctuations between its low point at $227.00 and its high point at $406.38. The firm’s market capitalization is currently valued at $6.86 billion with a price-to-earnings ratio of 23.72 along with a price-to-earnings-growth ratio of 3.10 and beta coefficient measuring risk tolerance at 2.18.
When considering financial health indicators for RH, it is important to note that the company has a debt-to-equity ratio of 3.70 while maintaining current and quick ratios of 2.91 and 2.01 respectively.
Overall, RH continues to attract institutional investors who see potential in the home furnishings industry despite ongoing market fluctuations due to various socioeconomic factors affecting consumer behavior.
