Soho House & Co Inc. (NYSE:SHCO) Shares Gap Up After Earnings Beat

Key Points

• Soho House & Co Inc. shares increased sharply after the company reported quarterly earnings of $0.13 per share, surpassing analysts' expectations of a loss by $0.21.
• CEO Andrew Carnie sold 100,000 shares at $6.38, reducing his ownership by 8.31% but still holding over 1.1 million shares valued at approximately $7 million.
• Institutional investors currently own 62.35% of the company, with significant stakes recently increased by firms like Third Point LLC and others, reflecting strong interest in the stock.

Soho House & Co Inc. (NYSE:SHCO - Get Free Report) gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $6.51, but opened at $7.50. Soho House & Co Inc. shares last traded at $7.11, with a volume of 69,801 shares traded.

The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.21. The company had revenue of $329.80 million for the quarter, compared to analyst estimates of $316.79 million. Soho House & Co Inc. had a negative return on equity of 4.13% and a negative net margin of 4.67%.

Insiders Place Their Bets

In other Soho House & Co Inc. news, CEO Andrew Carnie sold 100,000 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $6.38, for a total value of $638,000.00. Following the transaction, the chief executive officer owned 1,103,975 shares in the company, valued at approximately $7,043,360.50. This trade represents a 8.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 74.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Third Point LLC increased its position in shares of Soho House & Co Inc. by 121.1% during the 1st quarter. Third Point LLC now owns 5,200,000 shares of the company's stock worth $32,136,000 after purchasing an additional 2,847,924 shares during the last quarter. TIG Advisors LLC acquired a new stake in shares of Soho House & Co Inc. during the 4th quarter worth about $7,395,000. Groupe la Francaise acquired a new stake in shares of Soho House & Co Inc. during the 1st quarter worth about $1,192,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Soho House & Co Inc. during the 4th quarter worth about $790,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Soho House & Co Inc. during the 4th quarter worth about $742,000. Hedge funds and other institutional investors own 62.35% of the company's stock.

Soho House & Co Inc. Stock Performance

The business has a 50-day moving average of $6.88 and a 200-day moving average of $6.63. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -24.93 and a beta of 0.66.

Soho House & Co Inc. Company Profile

Soho House & Co, Inc is a holding company, which offers global membership platform of physical and digital spaces. It operates through the following segments: UK, North America, Europe and Rest of the World, and All Other. The company was founded by Nicholas Keith Arthur Jones in 1995 and is headquartered in London, the United Kingdom.