JPMorgan Chase & Co. Has $24.16 Million Stock Position in Arhaus, Inc. (NASDAQ:ARHS)

JPMorgan Chase & Co. boosted its holdings in Arhaus, Inc. (NASDAQ:ARHS - Free Report) by 1,808.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,962,232 shares of the company's stock after acquiring an additional 1,859,398 shares during the period. JPMorgan Chase & Co. owned about 1.40% of Arhaus worth $24,155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of Arhaus by 9,035.3% in the 2nd 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. Quest Partners LLC boosted its holdings in shares of Arhaus by 716,800.0% during the second quarter. Quest Partners LLC now owns 7,169 shares of the company's stock valued at $121,000 after acquiring an additional 7,168 shares during the period. Ground Swell Capital LLC bought a new position in shares of Arhaus during the second quarter worth about $183,000. American Century Companies Inc. increased its holdings in shares of Arhaus by 120.6% in the 2nd quarter. American Century Companies Inc. now owns 4,060,484 shares of the company's stock worth $68,785,000 after acquiring an additional 2,219,554 shares during the period. Finally, William Blair Investment Management LLC acquired a new stake in shares of Arhaus in the 2nd quarter worth about $21,034,000. 27.88% of the stock is currently owned by institutional investors and hedge funds.

Arhaus Price Performance

Arhaus stock remained flat at $9.46 during midday trading on Thursday. 1,213,617 shares of the company's stock traded hands, compared to its average volume of 1,250,888. Arhaus, Inc. has a 12-month low of $8.30 and a 12-month high of $19.81. 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 business's 50 day simple moving average is $9.77 and its 200-day simple moving average is $11.76. The firm has a market capitalization of $1.33 billion, a P/E ratio of 16.89, a PEG ratio of 14.78 and a beta of 2.58.

Arhaus (NASDAQ:ARHS - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.01). The business had revenue of $319.13 million for the quarter, compared to the consensus estimate of $328.94 million. Arhaus had a return on equity of 24.92% and a net margin of 6.18%. The company's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 earnings per share. As a group, equities analysts anticipate that Arhaus, Inc. will post 0.42 EPS for the current year.

Wall Street Analyst Weigh In

ARHS has been the subject of several recent analyst reports. Bank of America cut shares of Arhaus from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $15.00 to $11.00 in a research report on Thursday, November 7th. Wedbush lowered their target price on Arhaus from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group reiterated a "hold" rating and set a $12.00 price target on shares of Arhaus in a research report on Wednesday, October 9th. Craig Hallum lowered Arhaus from a "buy" rating to a "hold" rating and lowered their price target for the company from $14.00 to $10.00 in a report on Tuesday, October 15th. Finally, Stifel Nicolaus reduced their price objective on shares of Arhaus from $16.00 to $13.00 and set a "buy" rating for the company in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.90.

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.