1492 Capital Management LLC Takes Position in Arhaus, Inc. (NASDAQ:ARHS)

1492 Capital Management LLC bought a new stake in Arhaus, Inc. (NASDAQ:ARHS - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 98,236 shares of the company's stock, valued at approximately $923,000. 1492 Capital Management LLC owned 0.07% of Arhaus as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Arhaus by 20.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,215 shares of the company's stock valued at $680,000 after buying an additional 9,248 shares during the period. State Street Corp increased its holdings in shares of Arhaus by 14.5% during the 3rd quarter. State Street Corp now owns 930,023 shares of the company's stock worth $11,449,000 after acquiring an additional 117,422 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Arhaus in the 3rd quarter valued at $236,000. Geode Capital Management LLC lifted its holdings in Arhaus by 12.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,207,981 shares of the company's stock valued at $14,874,000 after purchasing an additional 134,312 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in Arhaus during the third quarter worth $814,000. 27.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ARHS has been the subject of a number of research reports. Robert W. Baird cut shares of Arhaus from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $13.00 to $8.50 in a research note on Monday, April 7th. Loop Capital initiated coverage on Arhaus in a report on Friday, January 24th. They set a "hold" rating and a $12.00 price objective for the company. Jefferies Financial Group upped their target price on Arhaus from $9.50 to $10.00 and gave the company a "hold" rating in a research report on Friday, January 10th. Telsey Advisory Group reissued an "outperform" rating and set a $11.00 price target on shares of Arhaus in a report on Wednesday, February 26th. Finally, Piper Sandler downgraded Arhaus from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $15.00 to $12.00 in a research note on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Arhaus currently has an average rating of "Hold" and a consensus target price of $11.18.

Arhaus Stock Performance

ARHS opened at $7.95 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 1.23. Arhaus, Inc. has a 52-week low of $6.61 and a 52-week high of $19.81. The firm has a market cap of $1.12 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 11.57 and a beta of 2.64. The business's fifty day moving average is $9.60 and its 200-day moving average is $10.03.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.