Marshall Wace LLP decreased its position in shares of Arhaus, Inc. (NASDAQ:ARHS – Free Report) by 97.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,900 shares of the company’s stock after selling 567,112 shares during the quarter. Marshall Wace LLP’s holdings in Arhaus were worth $286,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in ARHS. Price T Rowe Associates Inc. MD purchased a new position in shares of Arhaus during the 1st quarter valued at approximately $8,326,000. FACT Capital LP increased its position in shares of Arhaus by 63.6% during the 4th quarter. FACT Capital LP now owns 798,931 shares of the company’s stock worth $9,467,000 after purchasing an additional 310,566 shares during the last quarter. Sei Investments Co. grew its position in Arhaus by 192.7% in the 1st quarter. Sei Investments Co. now owns 383,091 shares of the company’s stock valued at $5,896,000 after acquiring an additional 252,192 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Arhaus by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 153,764 shares of the company’s stock valued at $2,605,000 after acquiring an additional 112,583 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Arhaus by 142.4% in the 1st quarter. Russell Investments Group Ltd. now owns 311,509 shares of the company’s stock valued at $4,794,000 after buying an additional 182,979 shares during the period. Institutional investors and hedge funds own 27.88% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on ARHS shares. Stifel Nicolaus decreased their target price on Arhaus from $19.50 to $16.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Bank of America dropped their price objective on Arhaus from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday. Telsey Advisory Group reiterated an “outperform” rating and set a $15.00 target price on shares of Arhaus in a research report on Monday, August 12th. Wedbush began coverage on Arhaus in a research note on Friday. They set a “neutral” rating and a $11.00 price target for the company. Finally, Robert W. Baird lowered their target price on Arhaus from $18.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Arhaus currently has a consensus rating of “Moderate Buy” and an average price target of $14.09.
Insider Buying and Selling
In other news, insider Venkatachalam Nachiappan sold 6,460 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $16.11, for a total value of $104,070.60. Following the completion of the sale, the insider now owns 36,736 shares of the company’s stock, valued at $591,816.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.52% of the company’s stock.
Arhaus Stock Up 1.4 %
Shares of ARHS stock opened at $10.52 on Friday. Arhaus, Inc. has a 1 year low of $7.56 and a 1 year high of $19.81. The stock has a market cap of $1.48 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 12.08 and a beta of 2.51. The business’s fifty day moving average is $11.97 and its 200-day moving average is $14.62. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.55 and a current ratio of 1.25.
Arhaus (NASDAQ:ARHS – Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $309.80 million for the quarter, compared to analysts’ expectations of $314.28 million. Arhaus had a return on equity of 28.45% and a net margin of 6.92%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. Equities analysts expect that Arhaus, Inc. will post 0.48 earnings per share for the current fiscal year.
Arhaus Company Profile
Arhaus, Inc operates as a lifestyle brand and premium retailer in the home furnishings market in the United States. It provides merchandise assortments across various categories, including furniture, lighting, textiles, décor, and outdoor. The company's furniture products comprise bedroom, dining room, living room, and home office furnishings, which includes sofas, dining tables and chairs, accent chairs, console and coffee tables, beds, headboards, dressers, desks, bookcases, modular storage, and other items; and outdoor products, such as outdoor dining tables, chairs, chaises and other furniture, lighting, textiles, décor, umbrellas, and fire pits.
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