Narwhal Capital Management Decreases Position in RH (NYSE:RH)

Narwhal Capital Management decreased its stake in RH (NYSE:RH) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,177 shares of the company’s stock after selling 374 shares during the quarter. Narwhal Capital Management’s holdings in RH were worth $1,265,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in RH in the fourth quarter worth $38,736,000. Granahan Investment Management LLC bought a new stake in shares of RH in the 4th quarter worth about $24,915,000. Price T Rowe Associates Inc. MD boosted its stake in shares of RH by 10.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock worth $231,728,000 after purchasing an additional 62,198 shares during the period. Victory Capital Management Inc. boosted its stake in shares of RH by 77.0% during the 2nd quarter. Victory Capital Management Inc. now owns 128,711 shares of the company’s stock worth $31,462,000 after purchasing an additional 55,999 shares during the period. Finally, Bamco Inc. NY grew its holdings in RH by 128.3% during the 1st quarter. Bamco Inc. NY now owns 94,998 shares of the company’s stock valued at $33,084,000 after purchasing an additional 53,395 shares during the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on RH shares. Wells Fargo & Company decreased their price objective on shares of RH from $350.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday. StockNews.com raised RH to a “sell” rating in a research note on Friday, June 21st. Stifel Nicolaus started coverage on RH in a research report on Tuesday, July 9th. They issued a “buy” rating and a $315.00 price objective on the stock. Loop Capital decreased their target price on RH from $350.00 to $230.00 and set a “hold” rating for the company in a research report on Monday, June 17th. Finally, BNP Paribas raised shares of RH to a “hold” rating in a research note on Friday, June 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $307.93.

RH Stock Performance

NYSE RH opened at $248.04 on Friday. The company has a market cap of $4.58 billion, a PE ratio of 68.71, a P/E/G ratio of 1.00 and a beta of 2.42. The firm’s 50 day moving average price is $261.51 and its 200-day moving average price is $266.17. RH has a 52-week low of $207.26 and a 52-week high of $372.40.

RH (NYSE:RH) last announced its earnings results on Thursday, June 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.32). The company had revenue of $726.96 million for the quarter, compared to the consensus estimate of $725.15 million. RH had a net margin of 2.72% and a negative return on equity of 29.15%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $2.21 EPS. On average, analysts forecast that RH will post 7.69 earnings per share for the current fiscal year.

Insider Activity at RH

In other news, CEO Gary G. Friedman bought 34,200 shares of RH stock in a transaction on Tuesday, June 25th. The stock was acquired at an average cost of $215.00 per share, for a total transaction of $7,353,000.00. Following the completion of the acquisition, the chief executive officer now owns 3,339,263 shares of the company’s stock, valued at approximately $717,941,545. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 28.10% of the stock is owned by corporate insiders.

About RH

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.