Alberta Investment Management Corp Acquires New Stake in RH (NYSE:RH)

Alberta Investment Management Corp bought a new position in shares of RH (NYSE:RH) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,846 shares of the company’s stock, valued at approximately $3,875,000.

Other large investors have also modified their holdings of the company. Two Sigma Advisers LP lifted its stake in shares of RH by 141.5% in the third quarter. Two Sigma Advisers LP now owns 159,600 shares of the company’s stock worth $53,375,000 after buying an additional 93,500 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in RH in the 4th quarter valued at about $31,384,000. WCM Investment Management LLC acquired a new stake in RH in the 4th quarter valued at about $18,006,000. Charles Schwab Investment Management Inc. lifted its position in RH by 26.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 184,834 shares of the company’s stock worth $61,814,000 after buying an additional 38,572 shares in the last quarter. Finally, Portolan Capital Management LLC purchased a new position in shares of RH during the 3rd quarter worth $5,177,000. Hedge funds and other institutional investors own 90.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on RH. Loop Capital boosted their target price on shares of RH from $320.00 to $450.00 and gave the company a “hold” rating in a report on Monday, December 16th. Wells Fargo & Company raised their target price on RH from $425.00 to $500.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Morgan Stanley upgraded RH from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $435.00 to $530.00 in a research report on Monday, January 13th. Barclays upgraded RH from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $383.00 to $515.00 in a report on Wednesday, January 8th. Finally, Guggenheim boosted their price objective on shares of RH from $425.00 to $550.00 and gave the company a “buy” rating in a report on Friday, December 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RH currently has an average rating of “Moderate Buy” and an average price target of $431.60.

Insiders Place Their Bets

In other RH news, insider Eri Chaya sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $450.45, for a total value of $11,261,250.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith Belling sold 500 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $415.00, for a total value of $207,500.00. Following the transaction, the director now directly owns 5,470 shares of the company’s stock, valued at approximately $2,270,050. This represents a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,880 shares of company stock worth $29,129,879 in the last 90 days. Corporate insiders own 28.10% of the company’s stock.

RH Stock Performance

Shares of RH opened at $365.46 on Friday. RH has a 1 year low of $212.43 and a 1 year high of $457.26. The stock has a market capitalization of $6.80 billion, a PE ratio of 105.02, a P/E/G ratio of 2.82 and a beta of 2.42. The company’s 50-day simple moving average is $408.84 and its 200-day simple moving average is $348.96.

RH (NYSE:RH) last announced its quarterly earnings data on Thursday, December 12th. The company reported $2.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.19). RH had a net margin of 2.25% and a negative return on equity of 35.72%. The company had revenue of $811.73 million during the quarter, compared to analysts’ expectations of $812.19 million. During the same quarter in the previous year, the business posted ($0.42) EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts predict that RH will post 4.39 earnings per share for the current year.

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.