Soho House & Co Inc. (NYSE:SHCO) Shares Gap Up – Still a Buy?

Soho House & Co Inc. (NYSE:SHCO) shares gapped up prior to trading on Thursday . The stock had previously closed at $7.92, but opened at $8.91. Soho House & Co Inc. shares last traded at $8.8750, with a volume of 1,541,370 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SHCO. Weiss Ratings reissued a “sell (d-)” rating on shares of Soho House & Co Inc. in a research note on Wednesday, October 8th. Zacks Research cut Soho House & Co Inc. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Soho House & Co Inc. has an average rating of “Hold” and a consensus target price of $9.00.

Soho House & Co Inc. Stock Up 12.1%

The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -22.19 and a beta of 0.69. The company’s 50-day moving average price is $8.79 and its 200-day moving average price is $8.38.

Soho House & Co Inc. (NYSE:SHCO) last issued its quarterly earnings results on Friday, November 7th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.12). Soho House & Co Inc. had a negative net margin of 6.00% and a negative return on equity of 4.02%. The company had revenue of $370.75 million during the quarter, compared to analysts’ expectations of $352.80 million. Analysts predict that Soho House & Co Inc. will post -0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Soho House & Co Inc.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Soho House & Co Inc. during the third quarter worth approximately $29,000. CWM LLC boosted its stake in Soho House & Co Inc. by 2,507.0% during the 2nd quarter. CWM LLC now owns 4,093 shares of the company’s stock worth $30,000 after purchasing an additional 3,936 shares during the last quarter. Bank of America Corp DE boosted its stake in Soho House & Co Inc. by 551.8% during the 2nd quarter. Bank of America Corp DE now owns 6,766 shares of the company’s stock worth $50,000 after purchasing an additional 5,728 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Soho House & Co Inc. by 37.4% during the second quarter. Osaic Holdings Inc. now owns 7,867 shares of the company’s stock worth $58,000 after buying an additional 2,143 shares in the last quarter. Finally, AlphaQuest LLC grew its holdings in shares of Soho House & Co Inc. by 65.8% during the third quarter. AlphaQuest LLC now owns 7,126 shares of the company’s stock worth $63,000 after buying an additional 2,827 shares in the last quarter. Hedge funds and other institutional investors own 62.35% of the company’s stock.

About Soho House & Co Inc.

Soho House & Co Inc is a global hospitality and membership company that operates a network of private clubs, hotels, restaurants, workspaces and leisure facilities aimed primarily at creative professionals. Its core offering revolves around exclusive, members-only “Houses” that combine social spaces, dining venues, screening rooms, spas and event programming under one roof. The company’s diversified portfolio extends to branded hotels and short-stay locations, as well as co-working facilities under the Soho Works banner.

The company was founded in 1995 by Nick Jones in London, with the inaugural House offering serving emerging artists, filmmakers and designers.