Diametric Capital LP Makes New Investment in RH (NYSE:RH)

Diametric Capital LP bought a new stake in RH (NYSE:RH) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,774 shares of the company’s stock, valued at approximately $1,092,000. RH comprises about 0.7% of Diametric Capital LP’s investment portfolio, making the stock its 28th biggest position.

Other institutional investors also recently modified their holdings of the company. Alliancebernstein L.P. lifted its stake in RH by 1,960.8% in the fourth quarter. Alliancebernstein L.P. now owns 363,698 shares of the company’s stock valued at $143,148,000 after buying an additional 346,050 shares during the period. Norges Bank acquired a new stake in shares of RH in the 4th quarter valued at approximately $54,314,000. Raymond James Financial Inc. bought a new position in RH during the 4th quarter worth approximately $52,190,000. American Century Companies Inc. grew its holdings in RH by 2,227.7% during the fourth quarter. American Century Companies Inc. now owns 105,701 shares of the company’s stock valued at $41,603,000 after purchasing an additional 101,160 shares during the period. Finally, Two Sigma Advisers LP increased its stake in RH by 141.5% in the third quarter. Two Sigma Advisers LP now owns 159,600 shares of the company’s stock valued at $53,375,000 after purchasing an additional 93,500 shares in the last quarter. Institutional investors and hedge funds own 90.17% of the company’s stock.

Insider Buying and Selling at RH

In related news, insider Edward T. Lee sold 600 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $446.73, for a total value of $268,038.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eri Chaya sold 25,000 shares of RH stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $450.45, for a total value of $11,261,250.00. The disclosure for this sale can be found here. Insiders sold a total of 66,380 shares of company stock worth $28,922,379 over the last ninety days. 28.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RH. Telsey Advisory Group decreased their price target on shares of RH from $500.00 to $420.00 and set an “outperform” rating for the company in a report on Monday, March 24th. 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. Citigroup cut their price objective on RH from $556.00 to $437.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Wedbush lowered their target price on RH from $500.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Finally, Morgan Stanley raised shares of RH from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $435.00 to $530.00 in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $400.13.

RH Stock Performance

NYSE:RH opened at $234.40 on Tuesday. RH has a 52-week low of $212.04 and a 52-week high of $457.26. The company has a market cap of $4.36 billion, a P/E ratio of 67.36, a P/E/G ratio of 2.65 and a beta of 2.50. The stock’s 50-day simple moving average is $331.40 and its 200 day simple moving average is $352.21.

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.