Oppenheimer Asset Management Inc. Purchases 38,628 Shares of Arhaus, Inc. (NASDAQ:ARHS)

Oppenheimer Asset Management Inc. lifted its position in shares of Arhaus, Inc. (NASDAQ:ARHS) by 67.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 95,966 shares of the company’s stock after acquiring an additional 38,628 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.07% of Arhaus worth $1,626,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ARHS. Quest Partners LLC lifted its stake in Arhaus by 716,800.0% in the 2nd quarter. Quest Partners LLC now owns 7,169 shares of the company’s stock worth $121,000 after purchasing an additional 7,168 shares in the last quarter. Ground Swell Capital LLC purchased a new stake in shares of Arhaus in the second quarter worth $183,000. Aspiriant LLC purchased a new stake in shares of Arhaus in the first quarter worth $204,000. Ballentine Partners LLC bought a new stake in Arhaus during the first quarter valued at $204,000. Finally, Virtu Financial LLC purchased a new position in Arhaus during the first quarter worth about $212,000. Hedge funds and other institutional investors own 27.88% of the company’s stock.

Insider Buying and Selling

In other Arhaus news, insider Venkatachalam Nachiappan sold 6,460 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $16.11, for a total value of $104,070.60. Following the completion of the sale, the insider now owns 36,736 shares in the company, valued at $591,816.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ARHS has been the topic of several recent analyst reports. Jefferies Financial Group cut Arhaus from a “buy” rating to a “hold” rating and lowered their price target for the company from $22.00 to $16.00 in a report on Monday, July 8th. Robert W. Baird dropped their target price on shares of Arhaus from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Barclays decreased their price target on shares of Arhaus from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus dropped their price objective on shares of Arhaus from $19.50 to $16.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Craig Hallum reduced their target price on Arhaus from $21.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Arhaus Price Performance

Shares of Arhaus stock opened at $13.31 on Thursday. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 12.49 and a beta of 2.52. The company has a fifty day moving average of $13.34 and a 200-day moving average of $14.97. Arhaus, Inc. has a 52-week low of $7.56 and a 52-week high of $19.81. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. The business had revenue of $309.80 million during the quarter, compared to analyst estimates of $314.28 million. Arhaus had a net margin of 6.92% and a return on equity of 28.45%. The company’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 earnings per share. Equities research analysts expect that Arhaus, Inc. will post 0.48 EPS for the current year.

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.