Fulton Bank N.A. Grows Position in RH (NYSE:RH)

Fulton Bank N.A. increased its position in RH (NYSE:RH) by 12.7% in the second quarter, HoldingsChannel.com reports. The fund owned 2,034 shares of the company’s stock after buying an additional 230 shares during the period. Fulton Bank N.A.’s holdings in RH were worth $497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. First Hawaiian Bank raised its position in RH by 116.2% during the second quarter. First Hawaiian Bank now owns 5,718 shares of the company’s stock valued at $1,398,000 after acquiring an additional 3,073 shares in the last quarter. Cetera Advisors LLC grew its position in RH by 124.1% during the first quarter. Cetera Advisors LLC now owns 1,849 shares of the company’s stock valued at $644,000 after buying an additional 1,024 shares during the period. Virtu Financial LLC increased its holdings in RH by 542.4% in the first quarter. Virtu Financial LLC now owns 26,684 shares of the company’s stock valued at $9,293,000 after buying an additional 22,530 shares in the last quarter. Tidal Investments LLC raised its position in shares of 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 acquiring an additional 13,214 shares during the period. Finally, DCM Advisors LLC raised its position in shares of RH by 0.6% in the first quarter. DCM Advisors LLC now owns 14,925 shares of the company’s stock worth $5,198,000 after acquiring an additional 93 shares during the period. 90.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Gary G. Friedman acquired 34,200 shares of RH stock in a transaction dated Tuesday, June 25th. The shares were acquired at an average cost of $215.00 per share, for a total transaction of $7,353,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,339,263 shares of the company’s stock, valued at $717,941,545. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 28.10% of the company’s stock.

Wall Street Analyst Weigh In

RH has been the topic of a number of recent analyst reports. Robert W. Baird lowered their price target on RH from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Stifel Nicolaus initiated coverage on RH in a report on Tuesday, July 9th. They set a “buy” rating and a $315.00 price target on the stock. Wells Fargo & Company decreased their price objective on shares of RH from $360.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Bank of America reduced their target price on shares of RH from $375.00 to $325.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Finally, BNP Paribas raised shares of RH to a “hold” rating in a research report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $310.79.

RH Stock Performance

NYSE:RH traded up $1.07 during trading hours on Wednesday, hitting $254.60. The company’s stock had a trading volume of 238,908 shares, compared to its average volume of 720,468. RH has a 52-week low of $207.26 and a 52-week high of $403.04. The business’s 50-day moving average is $256.89 and its two-hundred day moving average is $266.85. The company has a market capitalization of $4.69 billion, a PE ratio of 70.24, a PEG ratio of 0.99 and a beta of 2.42.

RH (NYSE:RH) last posted its earnings results on Thursday, June 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.32). RH had a net margin of 2.72% and a negative return on equity of 29.15%. The company had revenue of $726.96 million during the quarter, compared to analysts’ expectations of $725.15 million. During the same period in the previous year, the company posted $2.21 EPS. RH’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, analysts predict that RH will post 7.91 EPS for the current fiscal year.

RH Company 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.