Carnegie Investment Counsel Purchases 188,240 Shares of Arhaus, Inc. (NASDAQ:ARHS)

Carnegie Investment Counsel lifted its position in Arhaus, Inc. (NASDAQ:ARHS) by 176.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 294,740 shares of the company’s stock after purchasing an additional 188,240 shares during the quarter. Carnegie Investment Counsel owned 0.21% of Arhaus worth $3,628,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Amalgamated Bank bought a new stake in Arhaus during the 2nd quarter worth about $30,000. Nordea Investment Management AB grew its holdings in Arhaus by 1.5% during the 1st quarter. Nordea Investment Management AB now owns 278,089 shares of the company’s stock worth $4,436,000 after acquiring an additional 4,169 shares during the last quarter. California State Teachers Retirement System grew its holdings in Arhaus by 16.9% during the 1st quarter. California State Teachers Retirement System now owns 35,858 shares of the company’s stock worth $552,000 after acquiring an additional 5,178 shares during the last quarter. Quest Partners LLC grew its holdings in Arhaus by 716,800.0% during the 2nd quarter. Quest Partners LLC now owns 7,169 shares of the company’s stock worth $121,000 after acquiring an additional 7,168 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC grew its holdings in Arhaus by 79.7% during the 1st quarter. Counterpoint Mutual Funds LLC now owns 18,058 shares of the company’s stock worth $278,000 after acquiring an additional 8,007 shares during the last quarter. Institutional investors own 27.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ARHS. Craig Hallum reduced their target price on shares of Arhaus from $21.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Robert W. Baird reduced their target price on shares of Arhaus from $18.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Wedbush began coverage on shares of Arhaus in a research note on Friday. They issued a “neutral” rating and a $11.00 target price on the stock. Stifel Nicolaus reduced their target price 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, Bank of America reduced their target price on shares of Arhaus from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.09.

Insiders Place Their Bets

In other news, insider Venkatachalam Nachiappan sold 6,460 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $16.11, for a total transaction of $104,070.60. Following the completion of the transaction, the insider now directly owns 36,736 shares of the company’s stock, valued at $591,816.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.52% of the company’s stock.

Arhaus Stock Performance

Shares of ARHS stock opened at $10.52 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.55 and a current ratio of 1.25. The company has a market capitalization of $1.48 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 12.08 and a beta of 2.51. The company’s 50 day moving average price is $11.97 and its two-hundred day moving average price is $14.62. Arhaus, Inc. has a 52 week low of $7.56 and a 52 week high of $19.81.

Arhaus (NASDAQ:ARHS) last announced its earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. The firm had revenue of $309.80 million for the quarter, compared to the consensus estimate of $314.28 million. Arhaus had a net margin of 6.92% and a return on equity of 28.45%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. On average, analysts expect that Arhaus, Inc. will post 0.48 earnings per share for the current fiscal 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.