Here is What Hedge Funds Think About Restoration Hardware Holdings Inc (RH)

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As one would reasonably expect, some big names were leading the bulls’ herd. Point72 Asset Management, managed by Steve Cohen, created the biggest position in Restoration Hardware Holdings Inc (NYSE:RH). Point72 Asset Management had $40.2 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated a $32.1 million position during the quarter. The other funds with brand new RH positions are Alexander Mitchell’s Scopus Asset Management, Christopher A. Winham’s Tide Point Capital, and Gregory Thomas’ Carbonado Capital.

Let’s check out hedge fund activity in other stocks similar to Restoration Hardware Holdings Inc (NYSE:RH). We will take a look at Knight Capital Group Inc. (NYSE:KCG), Evertec Inc (NYSE:EVTC), Moelis & Co (NYSE:MC), and Quad/Graphics, Inc. (NYSE:QUAD). All of these stocks’ market caps are similar to RH’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
KCG 13 67081 -2
EVTC 19 256706 3
MC 10 71733 2
QUAD 21 107638 3

As you can see these stocks had an average of 15.75 hedge funds with bullish positions and the average amount invested in these stocks was $126 million. That figure was $407 million in RH’s case. Quad/Graphics, Inc. (NYSE:QUAD) is the most popular stock in this table. On the other hand Moelis & Co (NYSE:MC) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Restoration Hardware Holdings Inc (NYSE:RH) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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