Cedar Wealth Management LLC Reduces Stake in RH (NYSE:RH)

Cedar Wealth Management LLC lowered its position in RH (NYSE:RH) by 13.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 982 shares of the company’s stock after selling 150 shares during the quarter. Cedar Wealth Management LLC’s holdings in RH were worth $328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Quest Partners LLC raised its position in RH by 57.5% in the third quarter. Quest Partners LLC now owns 898 shares of the company’s stock worth $300,000 after acquiring an additional 328 shares during the period. KBC Group NV raised its holdings in RH by 25.8% in the 3rd quarter. KBC Group NV now owns 454 shares of the company’s stock worth $152,000 after purchasing an additional 93 shares during the period. Parametrica Management Ltd purchased a new position in RH during the third quarter valued at $216,000. Aigen Investment Management LP bought a new stake in RH during the third quarter valued at about $1,039,000. Finally, GSA Capital Partners LLP purchased a new stake in RH in the third quarter worth about $311,000. Hedge funds and other institutional investors own 90.17% of the company’s stock.

RH Stock Performance

NYSE RH opened at $323.62 on Wednesday. The stock has a 50 day moving average price of $328.15 and a 200-day moving average price of $284.57. RH has a one year low of $212.43 and a one year high of $367.00. The company has a market capitalization of $5.97 billion, a P/E ratio of 190.37, a P/E/G ratio of 1.79 and a beta of 2.43.

RH (NYSE:RH) last released its quarterly earnings data on Thursday, September 12th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.56 by $0.13. RH had a net margin of 1.13% and a negative return on equity of 11.29%. The business had revenue of $829.66 million during the quarter, compared to analyst estimates of $824.52 million. During the same quarter last year, the business earned $3.93 earnings per share. RH’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts predict that RH will post 5.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RH shares. Morgan Stanley raised their target price on shares of RH from $300.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Citigroup raised their price objective on shares of RH from $340.00 to $355.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Stifel Nicolaus upped their target price on shares of RH from $315.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Wells Fargo & Company increased their price target on RH from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Finally, Loop Capital boosted their price objective on RH from $230.00 to $320.00 and gave the company a “hold” rating in a research report on Monday, September 16th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, RH currently has a consensus rating of “Hold” and an average price target of $326.14.

Insider Buying and Selling

In related news, insider Edward T. Lee sold 2,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $353.57, for a total value of $707,140.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stefan Duban sold 4,285 shares of RH stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $346.37, for a total transaction of $1,484,195.45. Following the transaction, the insider now directly owns 78 shares of the company’s stock, valued at $27,016.86. The trade was a 98.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,285 shares of company stock worth $2,871,935. Corporate insiders own 28.10% of the company’s stock.

RH 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.