Soho House & Co Inc. (NYSE:SHCO) Sees Large Growth in Short Interest

Key Points

• Short interest in Soho House & Co Inc. increased by 27.9% in August, reaching a total of 2,430,000 shares as of August 31st.
• CEO Andrew Carnie sold 100,000 shares at an average price of $6.38, representing an 8.31% decrease in his ownership position.
• The company reported earnings of $0.13 per share for the last quarter, exceeding analysts' expectations of ($0.08) by $0.21.

Soho House & Co Inc. (NYSE:SHCO - Get Free Report) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 2,430,000 shares, an increase of 27.9% from the August 15th total of 1,900,000 shares. Approximately 5.4% of the shares of the stock are sold short. Based on an average daily volume of 950,000 shares, the days-to-cover ratio is currently 2.6 days. Based on an average daily volume of 950,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 5.4% of the shares of the stock are sold short.

Soho House & Co Inc. Stock Performance

NYSE:SHCO remained flat at $8.85 on Friday. 434,284 shares of the company's stock traded hands, compared to its average volume of 715,726. The firm has a market cap of $1.73 billion, a PE ratio of -29.50 and a beta of 0.69. Soho House & Co Inc. has a 52-week low of $4.60 and a 52-week high of $8.92. The firm's 50-day simple moving average is $7.82 and its two-hundred day simple moving average is $6.86.

Soho House & Co Inc. (NYSE:SHCO - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.21. The firm had revenue of $329.80 million during the quarter, compared to analyst estimates of $316.79 million. Soho House & Co Inc. had a negative return on equity of 4.02% and a negative net margin of 4.67%. Research analysts expect that Soho House & Co Inc. will post -0.43 EPS for the current fiscal year.

Insider Activity at Soho House & Co Inc.

In other news, CEO Andrew Carnie sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $6.38, for a total transaction of $638,000.00. Following the transaction, the chief executive officer directly owned 1,103,975 shares of the company's stock, valued at $7,043,360.50. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 74.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Northern Trust Corp raised its position in shares of Soho House & Co Inc. by 5.9% during the 4th quarter. Northern Trust Corp now owns 106,355 shares of the company's stock worth $792,000 after purchasing an additional 5,899 shares during the period. BNP Paribas Financial Markets acquired a new position in Soho House & Co Inc. during the 4th quarter worth about $182,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Soho House & Co Inc. in the 4th quarter valued at $790,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Soho House & Co Inc. by 53.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,416 shares of the company's stock worth $1,083,000 after purchasing an additional 50,723 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Soho House & Co Inc. in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 62.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SHCO shares. Zacks Research raised shares of Soho House & Co Inc. to a "strong-buy" rating in a report on Tuesday, August 12th. Roth Capital lowered shares of Soho House & Co Inc. from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $9.00.

About Soho House & Co Inc.

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.