Archer Investment Corp Buys $1.96 Million Stake in The Home Depot

Archer Investment Corp acquired a new stake in The Home Depot, Inc. (NYSE:HD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission.

The fund purchased 5,552 shares of the home improvement retailer's stock, valued at approximately $1.96 million.

This is not an isolated instance; other institutional investors have also made significant investments in The Home Depot recently. Bank of Nova Scotia acquired a new position in the company during the second quarter worth about $118.7 million.

The recent earnings report for The Home Depot exceeded expectations, with the company reporting $4.92 EPS, beating analysts' consensus estimates by $0.19.