Covenant Asset Management LLC Takes Position in RH $RH

Key Points

• Covenant Asset Management LLC acquired a new stake in RH, purchasing 9,700 shares valued at approximately $1.83 million, representing 0.05% ownership of the company.
• Insider transactions revealed that Director Mark S. Demilio sold 2,000 shares for about $472,260, decreasing his ownership by 7.51% to 24,616 shares.
• RH reported Q2 earnings of $2.93 per share, missing estimates and revealing a revenue of $899.15 million, alongside a current market cap of $3.79 billion.

Covenant Asset Management LLC bought a new stake in RH (NYSE:RH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,700 shares of the company's stock, valued at approximately $1,833,000. Covenant Asset Management LLC owned approximately 0.05% of RH as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AlphaQuest LLC acquired a new stake in shares of RH in the first quarter valued at about $29,000. Farther Finance Advisors LLC lifted its stake in shares of RH by 67.8% in the second quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock valued at $29,000 after purchasing an additional 61 shares during the period. UMB Bank n.a. lifted its stake in shares of RH by 53.8% in the second quarter. UMB Bank n.a. now owns 180 shares of the company's stock valued at $34,000 after purchasing an additional 63 shares during the period. GAMMA Investing LLC lifted its stake in shares of RH by 146.1% in the first quarter. GAMMA Investing LLC now owns 187 shares of the company's stock valued at $44,000 after purchasing an additional 111 shares during the period. Finally, NBC Securities Inc. acquired a new stake in shares of RH in the first quarter valued at about $45,000. Institutional investors and hedge funds own 90.17% of the company's stock.

Insider Buying and Selling at RH

In other news, Director Mark S. Demilio sold 2,000 shares of the business's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $236.13, for a total value of $472,260.00. Following the completion of the transaction, the director owned 24,616 shares of the company's stock, valued at $5,812,576.08. The trade was a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 27.00% of the stock is currently owned by corporate insiders.

RH Price Performance

NYSE:RH opened at $202.36 on Monday. The firm has a 50 day simple moving average of $222.53 and a 200-day simple moving average of $204.02. The firm has a market cap of $3.79 billion, a PE ratio of 37.68, a P/E/G ratio of 0.96 and a beta of 2.15. RH has a 1-year low of $123.03 and a 1-year high of $457.26.

RH (NYSE:RH - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The company reported $2.93 earnings per share for the quarter, missing analysts' consensus estimates of $3.22 by ($0.29). The firm had revenue of $899.15 million during the quarter, compared to analyst estimates of $906.58 million. RH had a net margin of 3.20% and a negative return on equity of 113.58%. The business's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.69 EPS. RH has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, sell-side analysts expect that RH will post 4.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

RH has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of RH from $235.00 to $215.00 and set a "neutral" rating for the company in a research note on Thursday, June 5th. Stifel Nicolaus cut their target price on shares of RH from $390.00 to $320.00 and set a "buy" rating for the company in a research report on Friday, September 12th. Zelman & Associates cut their target price on shares of RH from $305.00 to $251.00 and set an "outperform" rating for the company in a research report on Wednesday, July 9th. Guggenheim restated a "buy" rating and set a $300.00 target price on shares of RH in a research report on Friday, September 12th. Finally, Cowen restated a "buy" rating on shares of RH in a research report on Friday, September 12th. Ten analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $259.29.

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.

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