Principal Financial Group Inc. Acquires 7,468 Shares of Arhaus, Inc. (NASDAQ:ARHS)

Principal Financial Group Inc. increased its holdings in shares of Arhaus, Inc. (NASDAQ:ARHS) by 11.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 73,557 shares of the company’s stock after purchasing an additional 7,468 shares during the quarter. Principal Financial Group Inc. owned 0.05% of Arhaus worth $691,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of Arhaus during the third quarter worth $43,000. Stephens Inc. AR bought a new position in Arhaus during the 4th quarter worth about $109,000. Intech Investment Management LLC bought a new position in Arhaus during the 3rd quarter worth about $131,000. Total Clarity Wealth Management Inc. acquired a new stake in shares of Arhaus in the 4th quarter valued at about $140,000. Finally, Olympiad Research LP bought a new stake in shares of Arhaus in the third quarter valued at about $202,000. 27.88% of the stock is currently owned by institutional investors and hedge funds.

Arhaus Stock Performance

Shares of ARHS opened at $8.97 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.52. The firm has a 50-day moving average of $11.16 and a 200-day moving average of $10.80. The company has a market cap of $1.26 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 11.57 and a beta of 2.68. Arhaus, Inc. has a one year low of $8.30 and a one year high of $19.81.

Analyst Ratings Changes

A number of research firms recently issued reports on ARHS. Jefferies Financial Group increased their price objective on Arhaus from $9.50 to $10.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Barclays lowered their price objective on shares of Arhaus from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Piper Sandler lowered shares of Arhaus from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $15.00 to $12.00 in a research report on Thursday, February 27th. Robert W. Baird raised their target price on shares of Arhaus from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Finally, Bank of America cut shares of Arhaus from a “buy” rating to a “neutral” rating and cut their price target for the stock from $15.00 to $11.00 in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Arhaus currently has an average rating of “Hold” and a consensus target price of $11.59.

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.