Neo Ivy Capital Management Acquires Shares of 6,482 RH (NYSE:RH)

Key Points

• Neo Ivy Capital Management acquired a new stake in RH during the first quarter, purchasing 6,482 shares valued at approximately $1,519,000.
• Several institutional investors, including LPL Financial LLC and Deutsche Bank AG, significantly increased their holdings in RH, indicating strong institutional interest as they collectively own 90.17% of the company's stock.
• RH reported a surprising quarterly earnings of $0.13 EPS, surpassing analysts' expectations, but its revenue of $813.95 million fell short of forecasts, reflecting a mixed performance amid changing market conditions.

Neo Ivy Capital Management purchased a new stake in shares of RH (NYSE:RH - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,482 shares of the company's stock, valued at approximately $1,519,000.

Other hedge funds also recently modified their holdings of the company. LPL Financial LLC grew its holdings in shares of RH by 61.3% in the 4th quarter. LPL Financial LLC now owns 9,141 shares of the company's stock worth $3,598,000 after acquiring an additional 3,473 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of RH by 146.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,986 shares of the company's stock worth $934,000 after acquiring an additional 2,371 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of RH by 607.9% in the 4th quarter. Deutsche Bank AG now owns 9,464 shares of the company's stock worth $3,725,000 after acquiring an additional 8,127 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of RH by 49.7% in the 4th quarter. Sterling Capital Management LLC now owns 762 shares of the company's stock worth $300,000 after acquiring an additional 253 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of RH by 16.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,257 shares of the company's stock worth $888,000 after acquiring an additional 314 shares during the last quarter. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded RH from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. decreased their target price on RH from $510.00 to $250.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Zelman & Associates lowered their price target on RH from $305.00 to $251.00 and set an "outperform" rating on the stock in a report on Wednesday, July 9th. Citigroup reiterated a "neutral" rating and set a $200.00 price target (down previously from $437.00) on shares of RH in a report on Thursday, April 3rd. Finally, Guggenheim reiterated a "buy" rating and set a $300.00 price target on shares of RH in a report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $270.35.

RH Stock Down 2.8%

RH stock traded down $6.21 during midday trading on Tuesday, reaching $211.96. 347,649 shares of the company's stock traded hands, compared to its average volume of 1,337,862. The company has a 50-day simple moving average of $193.20 and a two-hundred day simple moving average of $249.16. RH has a 1-year low of $123.03 and a 1-year high of $457.26. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 50.47, a PEG ratio of 0.62 and a beta of 2.17.

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