Cedar Wealth Management LLC Sells 150 Shares of RH (NYSE:RH)

Cedar Wealth Management LLC lessened its stake in RH (NYSE:RH) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 982 shares of the company’s stock after selling 150 shares during the period. Cedar Wealth Management LLC’s holdings in RH were worth $328,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Texas Permanent School Fund Corp boosted its stake in RH by 25.3% in the second quarter. Texas Permanent School Fund Corp now owns 16,765 shares of the company’s stock worth $4,098,000 after buying an additional 3,387 shares in the last quarter. First Hawaiian Bank grew its holdings in shares of 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 purchasing an additional 3,073 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in shares of RH during the 3rd quarter valued at $3,251,000. Tidal Investments LLC lifted its stake in RH by 1,304.4% in the first quarter. Tidal Investments LLC now owns 14,227 shares of the company’s stock worth $4,955,000 after purchasing an additional 13,214 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of RH by 10.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock valued at $231,728,000 after buying an additional 62,198 shares during the last quarter. Institutional investors own 90.17% of the company’s stock.

RH Stock Performance

Shares of RH opened at $323.62 on Wednesday. RH has a fifty-two week low of $212.43 and a fifty-two week high of $367.00. The firm’s 50-day simple moving average is $328.15 and its two-hundred day simple moving average is $284.57. The stock has a market cap of $5.97 billion, a PE ratio of 190.37, a price-to-earnings-growth ratio of 1.79 and a beta of 2.43.

RH (NYSE:RH) last issued its quarterly earnings results on Thursday, September 12th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.13. The firm had revenue of $829.66 million for the quarter, compared to analysts’ expectations of $824.52 million. RH had a negative return on equity of 11.29% and a net margin of 1.13%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.93 EPS. Equities research analysts predict that RH will post 5.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RH shares. StockNews.com upgraded RH to a “sell” rating in a report on Thursday, September 19th. Wedbush raised shares of RH from a “neutral” rating to an “outperform” rating and increased their price target for the company from $310.00 to $430.00 in a research report on Monday, October 21st. JPMorgan Chase & Co. lowered their price objective on shares of RH from $345.00 to $338.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Loop Capital boosted their price target on RH from $230.00 to $320.00 and gave the company a “hold” rating in a report on Monday, September 16th. Finally, BNP Paribas reaffirmed an “underperform” rating and set a $253.00 price target on shares of RH in a research report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $326.14.

Insider Activity

In other news, insider Stefan Duban sold 4,285 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 78 shares of the company’s stock, valued at $27,016.86. This represents a 98.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark S. Demilio sold 2,000 shares of RH stock in a transaction dated 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 sale, the director now owns 10,914 shares of the company’s stock, valued at $3,714,034.20. The trade was a 15.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,285 shares of company stock worth $2,871,935 over the last three months. 28.10% of the stock is currently owned by corporate insiders.

RH 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.