Amalgamated Bank Makes New Investment in Arhaus, Inc. (NASDAQ:ARHS)

Amalgamated Bank bought a new position in Arhaus, Inc. (NASDAQ:ARHS) during the second quarter, Holdings Channel.com reports. The institutional investor bought 1,773 shares of the company’s stock, valued at approximately $30,000.

A number of other institutional investors have also added to or reduced their stakes in ARHS. Nordea Investment Management AB increased its position in shares of Arhaus by 1.5% during the 1st quarter. Nordea Investment Management AB now owns 278,089 shares of the company’s stock valued at $4,436,000 after purchasing an additional 4,169 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Arhaus by 16.9% during the 1st quarter. California State Teachers Retirement System now owns 35,858 shares of the company’s stock valued at $552,000 after purchasing an additional 5,178 shares during the last quarter. Quest Partners LLC increased its position in shares of Arhaus by 716,800.0% during the 2nd quarter. Quest Partners LLC now owns 7,169 shares of the company’s stock valued at $121,000 after purchasing an additional 7,168 shares during the last quarter. Counterpoint Mutual Funds LLC increased its position in shares of Arhaus by 79.7% during the 1st quarter. Counterpoint Mutual Funds LLC now owns 18,058 shares of the company’s stock valued at $278,000 after purchasing an additional 8,007 shares during the last quarter. Finally, Summit Creek Advisors LLC increased its position in shares of Arhaus by 0.7% during the 1st quarter. Summit Creek Advisors LLC now owns 1,261,837 shares of the company’s stock valued at $19,420,000 after purchasing an additional 8,461 shares during the last quarter. 27.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ARHS. TD Cowen reduced their price objective on Arhaus from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Telsey Advisory Group reiterated an “outperform” rating and set a $15.00 price objective on shares of Arhaus in a research report on Monday, August 12th. Robert W. Baird reduced their price target on Arhaus from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Jefferies Financial Group lowered 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 research report on Monday, July 8th. Finally, Barclays reduced their price target on Arhaus from $17.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.00.

Arhaus Trading Down 7.1 %

NASDAQ ARHS opened at $10.93 on Thursday. Arhaus, Inc. has a fifty-two week low of $7.56 and a fifty-two week high of $19.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.55 and a current ratio of 1.25. The stock has a 50 day simple moving average of $12.69 and a two-hundred day simple moving average of $14.86. The stock has a market cap of $1.53 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 15.20 and a beta of 2.52.

Arhaus (NASDAQ:ARHS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, topping 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 quarter last year, the business posted $0.29 EPS. The business’s revenue was down 1.0% on a year-over-year basis. On average, analysts forecast that Arhaus, Inc. will post 0.48 earnings per share for the current year.

Insiders Place Their Bets

In other Arhaus news, insider Venkatachalam Nachiappan sold 6,460 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $591,816.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.52% of the company’s stock.

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.