Carnegie Investment Counsel Purchases 62,820 Shares of Arhaus, Inc. (NASDAQ:ARHS)

Carnegie Investment Counsel grew its stake in Arhaus, Inc. (NASDAQ:ARHS - Free Report) by 143.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,500 shares of the company's stock after purchasing an additional 62,820 shares during the period. Carnegie Investment Counsel owned approximately 0.08% of Arhaus worth $1,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. National Bank of Canada FI grew its position in shares of Arhaus by 647.1% in the fourth quarter. National Bank of Canada FI now owns 6,350 shares of the company's stock valued at $74,000 after purchasing an additional 5,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Arhaus by 68.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,979 shares of the company's stock worth $106,000 after acquiring an additional 3,635 shares during the period. Sapient Capital LLC purchased a new stake in Arhaus in the fourth quarter valued at $118,000. Counterpoint Mutual Funds LLC purchased a new stake in Arhaus in the fourth quarter valued at $119,000. Finally, Versor Investments LP acquired a new position in shares of Arhaus in the 4th quarter valued at $171,000. 27.88% of the stock is currently owned by hedge funds and other institutional investors.

Arhaus Stock Up 0.2 %

Arhaus stock traded up $0.02 during trading on Tuesday, reaching $11.47. The stock had a trading volume of 988,767 shares, compared to its average volume of 1,276,637. The company has a quick ratio of 0.61, a current ratio of 1.21 and a debt-to-equity ratio of 0.19. Arhaus, Inc. has a 52-week low of $7.56 and a 52-week high of $19.81. The stock has a market cap of $1.61 billion, a PE ratio of 15.07, a P/E/G ratio of 2.13 and a beta of 2.57. The business has a 50 day moving average price of $15.60 and a 200 day moving average price of $15.10.

Arhaus (NASDAQ:ARHS - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. The business had revenue of $309.80 million during the quarter, compared to analysts' expectations of $314.28 million. Arhaus had a net margin of 8.30% and a return on equity of 34.83%. The company's revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. On average, analysts predict that Arhaus, Inc. will post 0.76 EPS for the current year.

Insider Activity

In other Arhaus news, insider Lisa Chi sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $19.14, for a total value of $28,710.00. Following the transaction, the insider now directly owns 68,785 shares in the company, valued at $1,316,544.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arhaus news, insider Venkatachalam Nachiappan sold 6,460 shares of the company's stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $16.11, for a total value of $104,070.60. Following the completion of the transaction, the insider now owns 36,736 shares in the company, valued at $591,816.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lisa Chi sold 1,500 shares of the company's stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $19.14, for a total transaction of $28,710.00. Following the completion of the transaction, the insider now owns 68,785 shares of the company's stock, valued at approximately $1,316,544.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,960 shares of company stock worth $2,978,281. 1.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Barclays dropped their target price on shares of Arhaus from $17.00 to $15.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Jefferies Financial Group cut Arhaus from a "buy" rating to a "hold" rating and dropped their price objective for the company from $22.00 to $16.00 in a research note on Monday, July 8th. Robert W. Baird lowered their target price on Arhaus from $18.00 to $14.00 and set an "outperform" rating for the company in a report on Friday, August 9th. Stifel Nicolaus cut their price target on shares of Arhaus from $19.50 to $16.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. Finally, TD Cowen reduced their price target on shares of Arhaus from $19.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $15.00.

Arhaus Company 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.