RH (RH US, +1, 28-Jun-24)

Gary Friedman (Chairman & CEO since 2014, joined 2001) purchased $10 million worth of stock on June 26th at $216.10, increasing his holding by 1%. While this is a minor addition to his 3.3 million shares (18% of the co), it’s interesting to see him buying now. 

This is a rare purchase, his first since September 2018, and the largest across his 5 previous buys. This is also the highest price he has paid for shares. His previous purchases were in a price range between $2.73 – $131 from 2014-2018. Moreover, this is a reversal from a series of option-related sales in December 2022 at an average price of $260. He has been timely on most prior buys in this stock and has a good record as a buyer. 

We are ranking stock +1 (strong positive signal).