Soho House & Co Inc. (NYSE:SHCO) Shares Gap Up Following Better-Than-Expected Earnings

Soho House & Co Inc. (NYSE:SHCO)’s share price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $6.51, but opened at $7.50. Soho House & Co Inc. shares last traded at $7.11, with a volume of 69,801 shares trading hands.

The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.21. The firm had revenue of $329.80 million for the quarter, compared to analyst estimates of $316.79 million.

Insider Activity

In other news, CEO Andrew Carnie sold 100,000 shares of Soho House & Co Inc. stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $6.38, for a total transaction of $638,000.00. Following the completion of the transaction, the chief executive officer owned 1,103,975 shares of the company’s stock, valued at $7,043,360.50. The trade was a 8.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 74.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Third Point LLC raised its stake in Soho House & Co Inc. by 121.1% in the 1st quarter. Third Point LLC now owns 5,200,000 shares of the company’s stock valued at $32,136,000 after purchasing an additional 2,847,924 shares during the last quarter. TIG Advisors LLC raised its stake in Soho House & Co Inc. by 19.2% in the 1st quarter. TIG Advisors LLC now owns 1,183,571 shares of the company’s stock valued at $7,314,000 after purchasing an additional 191,017 shares during the last quarter. Groupe la Francaise acquired a new position in Soho House & Co Inc. in the 1st quarter valued at about $1,192,000. Algert Global LLC raised its stake in Soho House & Co Inc. by 41.4% in the 1st quarter. Algert Global LLC now owns 173,631 shares of the company’s stock valued at $1,073,000 after purchasing an additional 50,820 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Soho House & Co Inc. by 53.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,416 shares of the company’s stock valued at $1,083,000 after purchasing an additional 50,723 shares during the last quarter. Institutional investors and hedge funds own 62.35% of the company’s stock.

Soho House & Co Inc. Trading Up 11.8%

The firm’s 50 day moving average is $6.86 and its two-hundred day moving average is $6.65. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -12.13 and a beta of 0.66.

Soho House & Co Inc. Company Profile

Soho House & Co, Inc is a holding company, which offers global membership platform of physical and digital spaces. It operates through the following segments: UK, North America, Europe and Rest of the World, and All Other. The company was founded by Nicholas Keith Arthur Jones in 1995 and is headquartered in London, the United Kingdom.