Quest Partners LLC Reduces Stake in Arhaus, Inc. (NASDAQ:ARHS)

Quest Partners LLC reduced its holdings in Arhaus, Inc. (NASDAQ:ARHS) by 57.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,042 shares of the company’s stock after selling 4,127 shares during the quarter. Quest Partners LLC’s holdings in Arhaus were worth $37,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Victory Capital Management Inc. increased its position in shares of Arhaus by 5.8% during the third quarter. Victory Capital Management Inc. now owns 25,893 shares of the company’s stock valued at $319,000 after buying an additional 1,416 shares during the period. Amalgamated Bank purchased a new position in shares of Arhaus during the 2nd quarter worth approximately $30,000. California State Teachers Retirement System grew its holdings 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 worth $552,000 after acquiring an additional 5,178 shares during the period. Sequoia Financial Advisors LLC grew its stake in Arhaus by 5.1% in the third quarter. Sequoia Financial Advisors LLC now owns 113,991 shares of the company’s stock worth $1,403,000 after purchasing an additional 5,577 shares during the period. Finally, Privium Fund Management B.V. boosted its stake in Arhaus by 34.7% during the third quarter. Privium Fund Management B.V. now owns 21,750 shares of the company’s stock worth $268,000 after acquiring an additional 5,600 shares in the last quarter. 27.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. TD Cowen lowered their target price on shares of Arhaus from $19.00 to $14.00 and set a “buy” rating for the company in a report on Friday, August 9th. Telsey Advisory Group upgraded Arhaus from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $11.00 to $12.00 in a research note on Thursday, November 14th. Jefferies Financial Group reissued a “hold” rating and issued a $12.00 target price on shares of Arhaus in a report on Wednesday, October 9th. Barclays lowered their price target on Arhaus from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Finally, Bank of America downgraded shares of Arhaus from a “buy” rating to a “neutral” rating and cut their price objective for the company from $15.00 to $11.00 in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.90.

Arhaus Stock Performance

Shares of ARHS stock opened at $9.93 on Monday. The company has a quick ratio of 0.52, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average price of $10.01 and a 200-day moving average price of $13.29. Arhaus, Inc. has a 52 week low of $8.30 and a 52 week high of $19.81. The firm has a market capitalization of $1.40 billion, a PE ratio of 17.73, a P/E/G ratio of 13.03 and a beta of 2.58.

Arhaus (NASDAQ:ARHS) last issued its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $319.13 million during the quarter, compared to analysts’ expectations of $328.94 million. Arhaus had a return on equity of 24.92% and a net margin of 6.18%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 EPS. As a group, equities research analysts expect that Arhaus, Inc. will post 0.42 earnings per share for the current 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.