Nicholas Investment Partners LP Cuts Stake in Arhaus, Inc. (NASDAQ:ARHS)

Nicholas Investment Partners LP trimmed its position in shares of Arhaus, Inc. (NASDAQ:ARHS - Free Report) by 13.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 474,564 shares of the company's stock after selling 74,741 shares during the quarter. Nicholas Investment Partners LP owned approximately 0.34% of Arhaus worth $8,039,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wasatch Advisors LP boosted its position in shares of Arhaus by 147.1% in the 1st quarter. Wasatch Advisors LP now owns 8,792,207 shares of the company's stock worth $135,312,000 after buying an additional 5,233,776 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Arhaus by 11.8% in the first quarter. Vanguard Group Inc. now owns 4,387,126 shares of the company's stock valued at $67,518,000 after purchasing an additional 463,749 shares in the last quarter. American Century Companies Inc. grew its position in shares of Arhaus by 120.6% in the second quarter. American Century Companies Inc. now owns 4,060,484 shares of the company's stock valued at $68,785,000 after purchasing an additional 2,219,554 shares during the last quarter. Hood River Capital Management LLC increased its stake in shares of Arhaus by 0.6% during the 1st quarter. Hood River Capital Management LLC now owns 1,547,296 shares of the company's stock worth $23,813,000 after purchasing an additional 8,824 shares in the last quarter. Finally, Summit Creek Advisors LLC raised its position in shares of Arhaus by 0.7% during the 1st quarter. Summit Creek Advisors LLC now owns 1,261,837 shares of the company's stock worth $19,420,000 after purchasing an additional 8,461 shares during the last quarter. Institutional investors and hedge funds own 27.88% of the company's stock.

Insider Buying and Selling at Arhaus

In other news, insider Venkatachalam Nachiappan sold 6,460 shares of the firm's stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $16.11, for a total value of $104,070.60. Following the transaction, the insider now directly owns 36,736 shares in the company, valued at approximately $591,816.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.52% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on ARHS. Craig Hallum lowered their target price on Arhaus from $21.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Stifel Nicolaus decreased their price objective on Arhaus from $19.50 to $16.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group downgraded shares of Arhaus from a "buy" rating to a "hold" rating and cut their target price for the company from $22.00 to $16.00 in a research note on Monday, July 8th. TD Cowen reduced their target price on shares of Arhaus from $19.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Finally, Robert W. Baird lowered their price target on shares of Arhaus from $18.00 to $14.00 and set an "outperform" rating for the company in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

Arhaus Trading Up 2.1 %

Shares of ARHS traded up $0.23 during mid-day trading on Thursday, hitting $11.17. The company had a trading volume of 768,027 shares, compared to its average volume of 1,244,168. Arhaus, Inc. has a 1-year low of $7.56 and a 1-year high of $19.81. The business's 50-day simple moving average is $13.61 and its 200-day simple moving average is $15.00. The stock has a market cap of $1.57 billion, a PE ratio of 14.67, a P/E/G ratio of 12.57 and a beta of 2.52. The company has a quick ratio of 0.55, a current ratio of 1.25 and a debt-to-equity ratio of 0.17.

Arhaus (NASDAQ:ARHS - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.04. Arhaus had a net margin of 6.92% and a return on equity of 28.45%. The company had revenue of $309.80 million for the quarter, compared to analyst estimates of $314.28 million. During the same quarter last year, the business earned $0.29 EPS. Arhaus's revenue for the quarter was down 1.0% on a year-over-year basis. Sell-side analysts forecast that Arhaus, Inc. will post 0.48 earnings per share for the current year.

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.