Geode Capital Management LLC Boosts Holdings in Arhaus, Inc. (NASDAQ:ARHS)

Geode Capital Management LLC boosted its stake in Arhaus, Inc. (NASDAQ:ARHS) by 12.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,207,981 shares of the company’s stock after buying an additional 134,312 shares during the quarter. Geode Capital Management LLC owned approximately 0.86% of Arhaus worth $14,874,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Arhaus by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 1,234,886 shares of the company’s stock worth $20,919,000 after buying an additional 48,406 shares in the last quarter. Lisanti Capital Growth LLC lifted its stake in Arhaus by 21.7% in the second quarter. Lisanti Capital Growth LLC now owns 319,050 shares of the company’s stock worth $5,405,000 after acquiring an additional 56,905 shares during the last quarter. Privium Fund Management B.V. purchased a new position in Arhaus in the second quarter valued at $257,000. Hussman Strategic Advisors Inc. purchased a new stake in Arhaus during the 2nd quarter worth about $1,779,000. Finally, Rhumbline Advisers lifted its stake in Arhaus by 9,035.3% during the second quarter. Rhumbline Advisers now owns 69,337 shares of the company’s stock worth $1,175,000 after purchasing an additional 68,578 shares during the last quarter. 27.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ARHS. Wedbush decreased their price objective on shares of Arhaus from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group restated a “hold” rating and set a $12.00 target price on shares of Arhaus in a research report on Wednesday, October 9th. Stifel Nicolaus reduced their price target on Arhaus from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Barclays decreased their price objective on shares of Arhaus from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, Telsey Advisory Group upgraded shares of Arhaus from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $11.00 to $12.00 in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.90.

Arhaus Trading Down 1.6 %

Shares of ARHS stock opened at $9.26 on Monday. The firm has a market capitalization of $1.30 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 14.78 and a beta of 2.58. The company has a current ratio of 1.23, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17. The firm’s fifty day simple moving average is $9.66 and its 200 day simple moving average is $12.22. Arhaus, Inc. has a 1 year low of $8.30 and a 1 year high of $19.81.

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