Ameritas Investment Partners Inc. Raises Position in RH (NYSE:RH)

Ameritas Investment Partners Inc. grew its holdings in shares of RH (NYSE:RH) by 27.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 7,063 shares of the company’s stock after purchasing an additional 1,500 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in RH were worth $2,460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Insight Advisors LLC PA lifted its holdings in shares of RH by 2.8% during the 1st quarter. Insight Advisors LLC PA now owns 1,447 shares of the company’s stock valued at $504,000 after purchasing an additional 39 shares during the last quarter. Tradition Wealth Management LLC raised its stake in RH by 14.8% in the 4th quarter. Tradition Wealth Management LLC now owns 350 shares of the company’s stock worth $102,000 after acquiring an additional 45 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in RH by 0.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 13,378 shares of the company’s stock worth $4,659,000 after acquiring an additional 47 shares during the last quarter. New York Life Investment Management LLC raised its stake in RH by 4.1% in the 4th quarter. New York Life Investment Management LLC now owns 1,703 shares of the company’s stock worth $496,000 after acquiring an additional 67 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in RH by 120.3% in the 4th quarter. Global Retirement Partners LLC now owns 141 shares of the company’s stock worth $41,000 after acquiring an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RH. Barclays increased their price target on RH from $293.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Monday, April 1st. Telsey Advisory Group cut their price target on RH from $320.00 to $290.00 and set a “market perform” rating on the stock in a research report on Friday, June 14th. Wedbush cut their price target on RH from $320.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Morgan Stanley cut their price target on RH from $320.00 to $300.00 and set an “equal weight” rating on the stock in a research report on Monday, June 17th. Finally, The Goldman Sachs Group cut their price target on RH from $264.00 to $226.00 and set a “sell” rating on the stock in a research report on Monday, June 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $310.79.

RH Price Performance

RH stock traded up $2.05 during midday trading on Tuesday, reaching $259.74. The company had a trading volume of 466,566 shares, compared to its average volume of 724,963. The company has a market capitalization of $4.79 billion, a P/E ratio of 71.38, a P/E/G ratio of 1.03 and a beta of 2.42. RH has a 12-month low of $207.26 and a 12-month high of $406.38. The firm’s fifty day simple moving average is $257.21 and its 200-day simple moving average is $266.62.

RH (NYSE:RH) last issued its quarterly earnings results on Thursday, June 13th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.32). RH had a net margin of 2.72% and a negative return on equity of 29.15%. The company had revenue of $726.96 million during the quarter, compared to analysts’ expectations of $725.15 million. During the same period in the prior year, the business posted $2.21 earnings per share. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, analysts expect that RH will post 8.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other RH news, insider Eri Chaya sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $279.92, for a total value of $27,992,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Gary G. Friedman purchased 34,200 shares of RH stock in a transaction dated Tuesday, June 25th. The shares were purchased at an average price of $215.00 per share, with a total value of $7,353,000.00. Following the transaction, the chief executive officer now owns 3,339,263 shares in the company, valued at $717,941,545. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Eri Chaya sold 100,000 shares of RH stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $279.92, for a total transaction of $27,992,000.00. The disclosure for this sale can be found here. Corporate insiders own 28.10% of the company’s stock.

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.