Granite Investment Partners LLC Invests $4.76 Million in Arhaus, Inc. (NASDAQ:ARHS)

Granite Investment Partners LLC acquired a new position in shares of Arhaus, Inc. (NASDAQ:ARHS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 506,246 shares of the company's stock, valued at approximately $4,759,000. Granite Investment Partners LLC owned approximately 0.36% of Arhaus at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Daymark Wealth Partners LLC grew its holdings in shares of Arhaus by 2.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 43,000 shares of the company's stock worth $404,000 after purchasing an additional 1,000 shares during the last quarter. Rhumbline Advisers boosted its stake in Arhaus by 1.8% during the 4th quarter. Rhumbline Advisers now owns 71,506 shares of the company's stock worth $672,000 after acquiring an additional 1,231 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Arhaus by 4.3% during the fourth quarter. Legal & General Group Plc now owns 37,440 shares of the company's stock worth $352,000 after purchasing an additional 1,531 shares in the last quarter. Janus Henderson Group PLC grew its stake in Arhaus by 8.7% in the third quarter. Janus Henderson Group PLC now owns 44,217 shares of the company's stock valued at $544,000 after acquiring an additional 3,529 shares during the period. Finally, AlphaQuest LLC increased its stake in Arhaus by 190.2% during the 4th quarter. AlphaQuest LLC now owns 8,828 shares of the company's stock worth $83,000 after purchasing an additional 5,786 shares in the last quarter. Institutional investors own 27.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Stifel Nicolaus lowered their target price on Arhaus from $14.00 to $11.50 and set a "buy" rating for the company in a report on Monday, March 3rd. Telsey Advisory Group reaffirmed an "outperform" rating and set a $11.00 price target on shares of Arhaus in a research report on Wednesday, February 26th. Piper Sandler downgraded shares of Arhaus from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $15.00 to $12.00 in a report on Thursday, February 27th. Baird R W cut shares of Arhaus from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Finally, Loop Capital initiated coverage on shares of Arhaus in a research note on Friday, January 24th. They issued a "hold" rating and a $12.00 price target on the stock. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Arhaus currently has a consensus rating of "Hold" and a consensus target price of $11.18.

Arhaus Stock Performance

NASDAQ ARHS traded up $0.34 during trading on Friday, reaching $7.95. 1,018,703 shares of the company's stock were exchanged, compared to its average volume of 1,568,922. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.52. Arhaus, Inc. has a fifty-two week low of $6.61 and a fifty-two week high of $19.81. The business has a 50 day moving average price of $9.50 and a 200-day moving average price of $10.00. The stock has a market capitalization of $1.12 billion, a P/E ratio of 14.20, a PEG ratio of 11.57 and a beta of 2.64.

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.