market folly

Dmitry Balyasny's hedge fund firm Balyasny Asset Management has filed a 13G with the SEC regarding its stake in Restoration Hardware (RH).  Per the filing, Balyasny now owns 5.41% of the company with over 2.2 million shares.

This marks an increase in their position size of over 1.85 million shares since the end of the third quarter of 2016.  The filing was made due to activity on January 30th.

Per Google Finance, Restoration Hardware 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. The Company classifies its sales into furniture and non-furniture product lines. The Furniture category includes both indoor and outdoor furniture. The Non-furniture category includes lighting, textiles, accessories and home decor. As of October 29, 2016, the Company operated a total of 85 retail galleries, consisting of 51 legacy Galleries, six larger format Design Galleries, seven next generation Design Galleries, one RH Modern Gallery and five RH Baby & Child Galleries throughout the United States and Canada, as well as 15 Waterworks showrooms in the United States and in the United Kingdom. In addition, as of October 29, 2016, the Company operated 28 outlet stores."