The Manufacturers Life Insurance Company Makes New $331,000 Investment in Arhaus, Inc. (NASDAQ:ARHS)

The Manufacturers Life Insurance Company bought a new stake in shares of Arhaus, Inc. (NASDAQ:ARHS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,545 shares of the company’s stock, valued at approximately $331,000.

Several other institutional investors and hedge funds have also bought and sold shares of ARHS. Wasatch Advisors LP raised its position in shares of Arhaus by 147.1% in the first quarter. Wasatch Advisors LP now owns 8,792,207 shares of the company’s stock valued at $135,312,000 after purchasing an additional 5,233,776 shares during the period. Vanguard Group Inc. lifted its position in shares of Arhaus by 11.8% during the first quarter. Vanguard Group Inc. now owns 4,387,126 shares of the company’s stock worth $67,518,000 after acquiring an additional 463,749 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Arhaus by 120.6% in the second quarter. American Century Companies Inc. now owns 4,060,484 shares of the company’s stock worth $68,785,000 after acquiring an additional 2,219,554 shares during the period. Hood River Capital Management LLC grew its position in shares of Arhaus by 0.6% in the first 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 in the last quarter. Finally, Summit Creek Advisors LLC grew 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 purchasing an additional 8,461 shares in the last quarter. 27.88% of the stock is owned by institutional investors.

Arhaus Price Performance

Shares of Arhaus stock opened at $9.56 on Friday. Arhaus, Inc. has a 52-week low of $7.56 and a 52-week high of $19.81. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 12.08 and a beta of 2.51. The company has a fifty day moving average of $11.66 and a 200-day moving average of $14.48. 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) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Arhaus had a net margin of 6.92% and a return on equity of 28.45%. The company had revenue of $309.80 million during the quarter, compared to analyst estimates of $314.28 million. During the same period in the prior year, the business posted $0.29 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. Equities research analysts expect that Arhaus, Inc. will post 0.48 EPS for the current year.

Insider Activity at Arhaus

In related 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 sale, the insider now directly owns 36,736 shares in the company, valued at $591,816.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.52% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on ARHS shares. Jefferies Financial Group restated a “hold” rating and issued a $12.00 target price on shares of Arhaus in a research note on Wednesday, October 9th. Bank of America cut their price objective on shares of Arhaus from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $15.00 target price on shares of Arhaus in a report on Monday, August 12th. TD Cowen dropped their price objective on Arhaus from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Stifel Nicolaus cut their price target on shares of Arhaus from $19.50 to $16.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Arhaus currently has a consensus rating of “Moderate Buy” and an average target price of $13.73.

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.