JPMorgan Chase & Co. Buys 1,859,398 Shares of Arhaus, Inc. (NASDAQ:ARHS)

JPMorgan Chase & Co. grew its holdings in Arhaus, Inc. (NASDAQ:ARHS) by 1,808.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,962,232 shares of the company’s stock after purchasing an additional 1,859,398 shares during the quarter. JPMorgan Chase & Co. owned about 1.40% of Arhaus worth $24,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Carnegie Investment Counsel increased its holdings in Arhaus by 176.8% during the 3rd quarter. Carnegie Investment Counsel now owns 294,740 shares of the company’s stock worth $3,628,000 after purchasing an additional 188,240 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Arhaus by 12.5% during the third quarter. Geode Capital Management LLC now owns 1,207,981 shares of the company’s stock valued at $14,874,000 after buying an additional 134,312 shares during the last quarter. LMR Partners LLP bought a new stake in Arhaus during the third quarter worth $4,308,000. Sei Investments Co. raised its position in Arhaus by 25.6% in the 2nd quarter. Sei Investments Co. now owns 481,331 shares of the company’s stock valued at $8,154,000 after buying an additional 98,240 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in Arhaus during the 3rd quarter valued at $814,000. Institutional investors own 27.88% of the company’s stock.

Arhaus Price Performance

Shares of NASDAQ:ARHS opened at $9.46 on Thursday. Arhaus, Inc. has a 52-week low of $8.30 and a 52-week high of $19.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 1.23. The firm has a fifty day moving average of $9.75 and a 200 day moving average of $11.78. The firm has a market capitalization of $1.33 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 14.78 and a beta of 2.58.

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wedbush lowered their target price on shares of Arhaus from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Bank of America lowered Arhaus from a “buy” rating to a “neutral” rating and reduced their target price for the company from $15.00 to $11.00 in a report on Thursday, November 7th. Jefferies Financial Group reiterated a “hold” rating and set a $12.00 price target on shares of Arhaus in a report on Wednesday, October 9th. Barclays decreased their target price 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, Craig Hallum lowered shares of Arhaus from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $14.00 to $10.00 in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Arhaus has an average rating of “Moderate Buy” and a consensus target price of $12.90.

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.