Legato Capital Management LLC Sells 2,015 Shares of RH (NYSE:RH)

Key Points

• Legato Capital Management LLC has reduced its stake in RH by 55.1%, holding only 1,640 shares after selling 2,015 shares during the first quarter, marking a decrease in the value of its holdings to $384,000.
• Despite the decrease by Legato, other hedge funds like Alliancebernstein and Victory Capital Management have significantly increased their stakes in RH, reflecting overall interest from institutional investors.
• RH's recent earnings showed a profit of $0.13 EPS, surpassing analyst expectations, and revenue increased by 12.0% compared to the previous year, though it fell slightly short of the consensus estimate.

Legato Capital Management LLC decreased its stake in shares of RH (NYSE:RH - Free Report) by 55.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,640 shares of the company's stock after selling 2,015 shares during the quarter. Legato Capital Management LLC's holdings in RH were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of RH. Alliancebernstein L.P. grew its position in RH by 1,960.8% in the 4th quarter. Alliancebernstein L.P. now owns 363,698 shares of the company's stock valued at $143,148,000 after purchasing an additional 346,050 shares during the period. Norges Bank bought a new position in RH during the 4th quarter valued at $54,314,000. Raymond James Financial Inc. bought a new position in RH during the 4th quarter valued at $52,190,000. Victory Capital Management Inc. lifted its stake in RH by 225.8% during the 1st quarter. Victory Capital Management Inc. now owns 165,127 shares of the company's stock valued at $38,707,000 after acquiring an additional 114,443 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new position in RH during the 4th quarter valued at $44,744,000. Institutional investors and hedge funds own 90.17% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Zelman & Associates dropped their price objective on RH from $305.00 to $251.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 9th. The Goldman Sachs Group cut RH from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $199.00 to $179.00 in a research note on Tuesday, June 24th. Guggenheim reiterated a "buy" rating and set a $300.00 target price on shares of RH in a research note on Wednesday, July 2nd. Wall Street Zen upgraded RH from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Citigroup reiterated a "neutral" rating and set a $200.00 target price (down from $437.00) on shares of RH in a research note on Thursday, April 3rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, RH presently has an average rating of "Hold" and an average target price of $270.35.

RH Trading Up 0.7%

Shares of NYSE RH traded up $1.49 during midday trading on Friday, hitting $214.23. 748,855 shares of the company's stock were exchanged, compared to its average volume of 1,099,864. RH has a 12-month low of $123.03 and a 12-month high of $457.26. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 51.01, a PEG ratio of 0.62 and a beta of 2.17. The business's fifty day moving average price is $192.91 and its two-hundred day moving average price is $252.70.

RH (NYSE:RH - Get Free Report) last released its earnings results on Thursday, June 12th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.20. The company had revenue of $813.95 million during the quarter, compared to the consensus estimate of $817.66 million. RH had a negative return on equity of 67.71% and a net margin of 2.57%. RH's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.40) EPS. Equities analysts expect that RH will post 4.39 earnings per share 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.