Advisory Services Network LLC lowered its stake in Restoration Hardware Holdings Inc. (NYSE:RH) by 61.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,950 shares of the company’s stock after selling 6,180 shares during the period. Advisory Services Network LLC’s holdings in Restoration Hardware Holdings were worth $113,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Architects Inc boosted its position in Restoration Hardware Holdings by 51.4% in the second quarter. Financial Architects Inc now owns 7,655 shares of the company’s stock valued at $220,000 after buying an additional 2,600 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Restoration Hardware Holdings during the second quarter valued at about $287,000. Wealthsource Partners LLC acquired a new position in Restoration Hardware Holdings during the first quarter valued at about $337,000. Douglass Winthrop Advisors LLC acquired a new position in Restoration Hardware Holdings during the second quarter valued at about $373,000. Finally, Quadrature Capital Ltd acquired a new position in Restoration Hardware Holdings during the first quarter valued at about $542,000. 98.58% of the stock is owned by institutional investors and hedge funds.
Restoration Hardware Holdings Inc. (NYSE:RH) traded down 0.85% during midday trading on Wednesday, hitting $31.60. The company had a trading volume of 675,477 shares. The company’s 50 day moving average is $33.97 and its 200 day moving average is $33.99. Restoration Hardware Holdings Inc. has a 12-month low of $24.75 and a 12-month high of $106.49. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 27.48 and a beta of 1.42.
Restoration Hardware Holdings (NYSE:RH) last issued its earnings results on Thursday, September 8th. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.15. Restoration Hardware Holdings had a return on equity of 9.47% and a net margin of 2.18%. The company earned $543.40 million during the quarter, compared to the consensus estimate of $511.80 million. During the same period in the previous year, the firm posted $0.85 earnings per share. Restoration Hardware Holdings’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Restoration Hardware Holdings Inc. will post $1.65 EPS for the current fiscal year.
Several research firms have recently weighed in on RH. Vetr downgraded Restoration Hardware Holdings from a “hold” rating to a “sell” rating and set a $29.91 target price for the company. in a report on Monday, August 15th. Zacks Investment Research raised Restoration Hardware Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Deutsche Bank AG reissued a “hold” rating on shares of Restoration Hardware Holdings in a report on Friday, September 30th. Goldman Sachs Group Inc. raised Restoration Hardware Holdings from a “neutral” rating to a “buy” rating and boosted their target price for the company from $37.00 to $40.00 in a report on Thursday, August 18th. Finally, Buckingham Research raised Restoration Hardware Holdings from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $30.00 to $34.00 in a report on Friday, October 7th. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Restoration Hardware Holdings presently has an average rating of “Hold” and a consensus target price of $47.26.
In related news, CEO Gary G. Friedman bought 32,918 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was bought at an average cost of $27.59 per share, for a total transaction of $908,207.62. Following the completion of the purchase, the chief executive officer now directly owns 2,207,451 shares in the company, valued at approximately $60,903,573.09. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.40% of the stock is owned by company insiders.
About Restoration Hardware Holdings
Restoration Hardware Holdings, Inc (RH) is a luxury retailer in the home furnishings marketplace. The Company offers merchandise assortments across a range of categories, including furniture, lighting, textiles, bathware, decor, outdoor and garden, tableware, and child and teen furnishings. RH classifies its sales into furniture, including both indoor and outdoor furniture, and non-furniture, including lighting, textiles, accessories and home decor, product lines.
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