RH director buys $1.82M in shares as stock climbs

RH shares rose Tuesday after board director Carlos Alberini purchased 11,388 shares at $160.13, a transaction disclosed in a regulatory filing.

The buy, valued at roughly $1.82 million, was executed on Monday, according to the filing. Alberini, a former CEO of Guess and current director at several companies, now holds a total of 11,388 shares directly.

The purchase comes as RH shares have traded near multiyear lows. The stock has fallen more than 30% over the past 12 months, pressured by a slowdown in luxury home furnishings demand and higher interest rates that have weighed on the housing market. Alberini's buy is the first insider purchase at RH in over a year, according to data from InsiderScore.

RH, formerly known as Restoration Hardware, operates a chain of high-end home furnishings stores and an online marketplace. The company reports fiscal first-quarter results in early June. Analysts expect revenue of about $725 million, down 8% from a year earlier, according to consensus estimates compiled by Bloomberg.

The stock closed at $163.50 on Tuesday, up 2.1% on the session. The gain trimmed RH's year-to-date decline to roughly 15%.