Soho House & Co Inc. (NYSE:SHCO) Shares Gap Up After Better-Than-Expected Earnings

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.

Shares of 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 changing hands.

The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.21. The business had revenue of $329.80 million during the quarter, compared to analyst estimates of $316.79 million.

Insider Activity

In other news, CEO Andrew Carnie sold 100,000 shares of Soho House & Co Inc. stock in a transaction that occurred on Tuesday, July 22nd. The shares were 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 of the company's stock, valued at $7,043,360.50. The trade was a 8.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 74.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SHCO. KLP Kapitalforvaltning AS purchased a new position in shares of Soho House & Co Inc. in the fourth quarter worth approximately $40,000. JPMorgan Chase & Co. grew its position in Soho House & Co Inc. by 82.4% during the fourth quarter. JPMorgan Chase & Co. now owns 119,236 shares of the company's stock valued at $888,000 after purchasing an additional 53,860 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new position in Soho House & Co Inc. during the fourth quarter valued at approximately $111,000. Renaissance Technologies LLC purchased a new position in Soho House & Co Inc. during the fourth quarter valued at approximately $742,000. Finally, Covestor Ltd purchased a new position in Soho House & Co Inc. during the fourth quarter valued at approximately $59,000. 62.35% of the stock is owned by hedge funds and other institutional investors.

Soho House & Co Inc. Stock Up 11.8%

The stock's 50-day moving average is $6.86 and its 200 day moving average is $6.64. The stock has a market capitalization of $1.42 billion, a PE ratio of -24.27 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.