Rhumbline Advisers Has $1.18 Million Stake in Arhaus, Inc. (NASDAQ:ARHS)

Rhumbline Advisers boosted its holdings in shares of Arhaus, Inc. (NASDAQ:ARHS) by 9,035.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,337 shares of the company’s stock after purchasing an additional 68,578 shares during the period. Rhumbline Advisers’ holdings in Arhaus were worth $1,175,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wasatch Advisors LP boosted its position in Arhaus by 147.1% in the 1st quarter. Wasatch Advisors LP now owns 8,792,207 shares of the company’s stock valued at $135,312,000 after buying an additional 5,233,776 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Arhaus by 11.8% in the 1st quarter. Vanguard Group Inc. now owns 4,387,126 shares of the company’s stock valued at $67,518,000 after purchasing an additional 463,749 shares during the period. Hood River Capital Management LLC raised its stake in shares of Arhaus by 0.6% in the 1st quarter. Hood River Capital Management LLC now owns 1,547,296 shares of the company’s stock valued at $23,813,000 after purchasing an additional 8,824 shares during the period. Summit Creek Advisors LLC increased its position in shares of Arhaus by 0.7% in the first quarter. Summit Creek Advisors LLC now owns 1,261,837 shares of the company’s stock valued at $19,420,000 after acquiring an additional 8,461 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Arhaus by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 1,234,886 shares of the company’s stock valued at $20,919,000 after acquiring an additional 48,406 shares during the last quarter. 27.88% of the stock is owned by institutional investors and hedge funds.

Arhaus Trading Down 1.4 %

Shares of ARHS stock opened at $13.14 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.55 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.84 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 12.49 and a beta of 2.52. The stock has a 50 day simple moving average of $13.22 and a 200 day simple moving average of $15.00. Arhaus, Inc. has a 1 year low of $7.56 and a 1 year high of $19.81.

Arhaus (NASDAQ:ARHS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. Arhaus had a return on equity of 28.45% and a net margin of 6.92%. The business had revenue of $309.80 million during the quarter, compared to analysts’ expectations of $314.28 million. During the same period in the previous year, the company posted $0.29 earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, research analysts predict that Arhaus, Inc. will post 0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays lowered their target price on Arhaus from $17.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Jefferies Financial Group cut Arhaus from a “buy” rating to a “hold” rating and reduced their price target for the stock from $22.00 to $16.00 in a report on Monday, July 8th. Telsey Advisory Group reiterated an “outperform” rating and set a $15.00 price target on shares of Arhaus in a report on Monday, August 12th. Craig Hallum reduced their price target on Arhaus from $21.00 to $14.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, TD Cowen reduced their price target on Arhaus from $19.00 to $14.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Arhaus has an average rating of “Moderate Buy” and an average price target of $15.00.

Insider Transactions at Arhaus

In other news, insider Venkatachalam Nachiappan sold 6,460 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $16.11, for a total transaction of $104,070.60. Following the completion of the transaction, the insider now directly owns 36,736 shares in the company, valued at $591,816.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.52% of the company’s stock.

Arhaus 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.