Bank of America Corp DE Grows Position in RH $RH

Key Points

• Bank of America increased its RH stake by 166.5% in the first quarter, bringing its holdings to 238,681 shares valued at approximately $33.4 million. Institutional investors collectively own 90.17% of RH.
• RH reported quarterly revenue of $800.3 million, slightly above estimates, and an adjusted loss of $1.97 per share that beat expectations; however, revenue declined 1.7% year over year.
• Analyst sentiment remains mixed, with RH holding an overall “Hold” rating and an average price target of $174.29. Insiders have sold $21.9 million of stock over the past 90 days, despite one director making a sizable purchase.

Bank of America Corp DE boosted its position in shares of RH (NYSE:RH - Free Report) by 166.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 238,681 shares of the company's stock after purchasing an additional 149,127 shares during the period. Bank of America Corp DE owned about 1.26% of RH worth $33,372,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RH. RBF Capital LLC purchased a new position in shares of RH during the first quarter valued at approximately $1,735,000. Lodge Hill Capital LLC bought a new position in RH in the 1st quarter valued at $13,283,000. California State Teachers Retirement System grew its position in RH by 23.0% in the 1st quarter. California State Teachers Retirement System now owns 17,460 shares of the company's stock valued at $2,441,000 after acquiring an additional 3,262 shares during the last quarter. Quantinno Capital Management LP increased its stake in RH by 138.1% in the first quarter. Quantinno Capital Management LP now owns 24,999 shares of the company's stock worth $3,495,000 after purchasing an additional 14,500 shares during the period. Finally, Union Square Park Capital Management LLC increased its stake in RH by 18.2% in the first quarter. Union Square Park Capital Management LLC now owns 65,000 shares of the company's stock worth $9,088,000 after purchasing an additional 10,000 shares during the period. 90.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Mark S. Demilio sold 3,102 shares of RH stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $144.00, for a total value of $446,688.00. Following the transaction, the director owned 25,830 shares of the company's stock, valued at $3,719,520. The trade was a 10.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlos Alberini acquired 11,388 shares of RH stock in a transaction that occurred on Monday, June 29th. The shares were purchased at an average price of $160.90 per share, with a total value of $1,832,329.20. Following the purchase, the director owned 32,190 shares in the company, valued at $5,179,371. This represents a 54.74% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 132,749 shares of company stock worth $21,856,812. 26.90% of the stock is owned by corporate insiders.

Trending Headlines about RH

Here are the key news stories impacting RH this week:

• Positive Sentiment: Wells Fargo forecast strong price appreciation for RH, providing a potentially supportive analyst signal and helping reinforce the recovery from the stock’s 52-week low. Wells Fargo forecasts strong price appreciation for RH
• Neutral Sentiment: RH was recently identified among the market’s most-shorted stocks. High short interest can reflect bearish investor expectations, but it also creates the possibility of short-covering and sharper upward moves if sentiment improves. Short sellers attack RH
• Negative Sentiment: A recent market update said RH fell while the broader market advanced, indicating near-term relative weakness and continued sensitivity to investor concerns about the luxury-home-furnishings retailer. RH stock slides as market rises

RH Stock Up 1.0%

Shares of RH stock opened at $181.40 on Friday. The company has a debt-to-equity ratio of 54.96, a current ratio of 1.13 and a quick ratio of 0.32. RH has a 1 year low of $106.30 and a 1 year high of $257.00. The firm's 50-day moving average is $168.18 and its two-hundred day moving average is $157.87. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 4.20 and a beta of 1.87.

RH (NYSE:RH - Get Free Report) last posted its quarterly earnings results on Thursday, June 11th. The company reported ($1.97) EPS for the quarter, beating the consensus estimate of ($2.12) by $0.15. RH had a net margin of 3.01% and a return on equity of 423.79%. The business had revenue of $800.33 million during the quarter, compared to analyst estimates of $792.55 million. During the same quarter in the previous year, the business posted $0.13 EPS. The company's quarterly revenue was down 1.7% compared to the same quarter last year. As a group, research analysts expect that RH will post 4.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RH has been the subject of several research analyst reports. Bank of America began coverage on RH in a research report on Monday, August 3rd. They set an "underperform" rating and a $156.00 target price for the company. Robert W. Baird upped their price target on shares of RH from $125.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, June 12th. UBS Group reduced their price target on shares of RH from $160.00 to $155.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 9th. KeyCorp reiterated a "sector weight" rating on shares of RH in a report on Friday, June 12th. Finally, TD Cowen reissued a "buy" rating on shares of RH in a research report on Monday. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $174.29.

RH Company Profile

RH, formerly Restoration Hardware, is a design-driven luxury retailer specializing in high-end home furnishings, décor, textiles, lighting and outdoor living products. The company offers a curated collection of furniture pieces—including seating, casegoods, beds and dining items—alongside rugs, art and decorative accessories. RH's product lines are organized into distinct collections, each reflecting a cohesive design philosophy and premium craftsmanship aimed at the residential and hospitality markets.

Founded in 1979 in Eureka, California, by Stephen Gordon, Restoration Hardware began as a small warehouse in Northern California.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source