Allspring Global Investments Holdings LLC increased its holdings in RH (NYSE:RH) by 8.2% in the third quarter, according to a recent disclosure with the Securities & Exchange Commission. The firm now owns 245,810 shares of the company’s stock after acquiring an additional 18,563 shares during the period. This brings Allspring Global Investments Holdings LLC’s ownership of RH to 1.33% worth $82,206,000 at the end of the reporting period. Other hedge funds have also been active in buying and selling shares of RH recently. Blue Trust Inc. boosted its position by 308.3% during the third quarter. The firm now owns 98 shares of RH valued at $33,000 after purchasing an additional 74 shares. Additionally, Hollencrest Capital Management, Ridgewood Investments LLC, Ameliora Wealth Management Ltd., and CWM LLC have all made new investments in RH during various quarters.
RH stock performance showed a dip of $5.14 during mid-day trading on Monday, reaching $349.38. The stock had a trading volume of 504,549 shares, compared to the average volume of 729,323 shares. RH has a market cap of $6.44 billion, a PE ratio of 98.07, a PEG ratio of 1.89, and a beta of 2.43. The company last released its earnings results on Thursday, September 12th, surpassing analysts’ consensus estimates. RH’s revenue was up 3.6% compared to the same quarter last year, and equities research analysts predict that RH will post 5.61 EPS for the current fiscal year.
In terms of insider activity at RH, Director Mark S. Demilio and insider Stefan Duban have both recently sold shares of the company’s stock. Director Demilio sold 2,000 shares at an average price of $340.30, while insider Duban sold 4,285 shares at an average price of $346.37. Insiders have collectively sold 8,285 shares in the last three months, representing 28.10% of the stock owned by insiders.
Analysts have been active in upgrading and downgrading RH’s stock, with Loop Capital, Stifel Nicolaus, TD Cowen, Telsey Advisory Group, and Bank of America all providing price targets and ratings on the stock. Two analysts have rated the stock as sell, seven as hold, and seven as buy, with a consensus rating of “Hold” and a consensus price target of $331.77.
RH, along with its subsidiaries, operates as a retailer in the home furnishings market, offering products in various categories such as furniture, lighting, textiles, bathware, décor, and more. The company provides its products through online channels and operates physical stores in the United States, Canada, the United Kingdom, and Germany.
In conclusion, while RH currently holds a “Hold” rating among analysts, there are other stocks that are considered better buys by top-rated analysts. It’s essential for investors to conduct thorough research and consider all options before making investment decisions.
