Algert Global LLC Lowers Stake in Arhaus, Inc. (NASDAQ:ARHS)

Algert Global LLC reduced its position in Arhaus, Inc. (NASDAQ:ARHS) by 55.7% in the second quarter, HoldingsChannel.com reports. The firm owned 85,221 shares of the company’s stock after selling 107,274 shares during the period. Algert Global LLC’s holdings in Arhaus were worth $1,444,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wasatch Advisors LP increased its stake in Arhaus by 147.1% in the 1st quarter. Wasatch Advisors LP now owns 8,792,207 shares of the company’s stock worth $135,312,000 after buying an additional 5,233,776 shares in the last quarter. American Century Companies Inc. grew its position in shares of Arhaus by 120.6% during the second quarter. American Century Companies Inc. now owns 4,060,484 shares of the company’s stock worth $68,785,000 after purchasing an additional 2,219,554 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Arhaus during the second quarter worth about $21,034,000. Price T Rowe Associates Inc. MD bought a new stake in Arhaus during the 1st quarter valued at approximately $8,326,000. Finally, Silvercrest Asset Management Group LLC purchased a new position in Arhaus in the 1st quarter worth approximately $8,301,000. 27.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Craig Hallum reduced their price objective on shares of Arhaus from $21.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Stifel Nicolaus decreased their price target on shares of Arhaus from $19.50 to $16.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Barclays dropped their price objective on shares of Arhaus from $17.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Jefferies Financial Group cut Arhaus from a “buy” rating to a “hold” rating and reduced their target price for the stock from $22.00 to $16.00 in a report on Monday, July 8th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $15.00 price target on shares of Arhaus in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Arhaus Price Performance

Arhaus stock opened at $10.59 on Friday. Arhaus, Inc. has a 12-month low of $7.56 and a 12-month high of $19.81. 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 firm has a 50-day moving average price of $12.59 and a 200-day moving average price of $14.83. The firm has a market capitalization of $1.49 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 15.20 and a beta of 2.51.

Arhaus (NASDAQ:ARHS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. Arhaus had a net margin of 6.92% and a return on equity of 28.45%. The business had revenue of $309.80 million during the quarter, compared to the consensus estimate of $314.28 million. During the same quarter last year, the firm earned $0.29 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Arhaus, Inc. will post 0.48 EPS for the current year.

Insider Buying and Selling at Arhaus

In other news, insider Venkatachalam Nachiappan sold 6,460 shares of Arhaus stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $16.11, for a total transaction of $104,070.60. Following the completion of the sale, the insider now directly owns 36,736 shares in the company, valued at $591,816.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

About Arhaus

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.