Soho House & Co Inc. (NYSE:SHCO) Sees Large Volume Increase – Still a Buy?

Soho House & Co Inc. (NYSE:SHCO) shares saw an uptick in trading volume on Thursday . 187,684 shares traded hands during trading, a decline of 21% from the previous session’s volume of 237,572 shares.The stock last traded at $7.00 and had previously closed at $7.17.

Wall Street Analyst Weigh In

Separately, Morgan Stanley restated an “equal weight” rating and issued a $5.50 target price on shares of Soho House & Co Inc. in a research note on Tuesday, September 3rd.

Soho House & Co Inc. Stock Performance

The firm has a fifty day simple moving average of $5.36 and a 200-day simple moving average of $5.40. The company has a market capitalization of $1.35 billion, a PE ratio of -7.53 and a beta of 0.70.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in shares of Soho House & Co Inc. by 9.0% during the second quarter. Renaissance Technologies LLC now owns 114,702 shares of the company’s stock worth $609,000 after purchasing an additional 9,502 shares during the last quarter. Symmetry Investments LP raised its position in shares of Soho House & Co Inc. by 93.0% during the 2nd quarter. Symmetry Investments LP now owns 19,300 shares of the company’s stock valued at $102,000 after acquiring an additional 9,300 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Soho House & Co Inc. by 5.2% during the third quarter. GSA Capital Partners LLP now owns 194,025 shares of the company’s stock worth $990,000 after purchasing an additional 9,524 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Soho House & Co Inc. by 13.9% in the third quarter. Daiwa Securities Group Inc. now owns 17,200 shares of the company’s stock worth $88,000 after purchasing an additional 2,100 shares during the period. Finally, FMR LLC increased its stake in Soho House & Co Inc. by 303.7% during the third quarter. FMR LLC now owns 13,479 shares of the company’s stock valued at $69,000 after purchasing an additional 10,140 shares during the last quarter. 62.35% of the stock is owned by institutional investors and hedge funds.

Soho House & Co Inc. Company Profile

Soho House & Co Inc operates a global membership platform of physical and digital spaces that connects a group of members. The company helps the members to use the platform to work, socialize, connect, create, and flourish all over the world. The company was formerly known as Membership Collective Group Inc and changed its name to Soho House & Co Inc in March 2023.