Engineers Gate Manager LP Increases Stock Position in Arhaus, Inc. $ARHS

by · The Markets Daily

Engineers Gate Manager LP increased its position in shares of Arhaus, Inc. (NASDAQ:ARHS – Free Report) by 54.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 213,976 shares of the company’s stock after buying an additional 75,371 shares during the period. Engineers Gate Manager LP’s holdings in Arhaus were worth $1,802,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ARHS. Bank of America Corp DE lifted its stake in shares of Arhaus by 2.1% in the first quarter. Bank of America Corp DE now owns 2,337,340 shares of the company’s stock worth $15,847,000 after acquiring an additional 49,036 shares in the last quarter. Meros Investment Management LP grew its stake in Arhaus by 71.1% during the 4th quarter. Meros Investment Management LP now owns 821,734 shares of the company’s stock valued at $9,212,000 after purchasing an additional 341,577 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Arhaus by 18.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,179,268 shares of the company’s stock valued at $7,994,000 after purchasing an additional 185,208 shares in the last quarter. Punch & Associates Investment Management Inc. increased its holdings in Arhaus by 2.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,115,665 shares of the company’s stock worth $7,564,000 after purchasing an additional 22,580 shares during the last quarter. Finally, Granite Investment Partners LLC raised its position in shares of Arhaus by 14.0% in the 1st quarter. Granite Investment Partners LLC now owns 460,322 shares of the company’s stock valued at $3,121,000 after purchasing an additional 56,628 shares in the last quarter. 27.88% of the stock is currently owned by institutional investors and hedge funds.

Arhaus Stock Down 10.1%

ARHS stock opened at $7.30 on Wednesday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 2.57 and a beta of 2.30. Arhaus, Inc. has a 1-year low of $5.57 and a 1-year high of $12.08. The firm has a fifty day moving average price of $8.47 and a two-hundred day moving average price of $7.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.33 and a quick ratio of 0.60.

Arhaus (NASDAQ:ARHS – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. Arhaus had a return on equity of 17.23% and a net margin of 4.91%.The company had revenue of $384.90 million during the quarter, compared to the consensus estimate of $365.66 million. During the same period in the previous year, the firm posted $0.25 earnings per share. Arhaus’s quarterly revenue was up 7.5% compared to the same quarter last year. Research analysts predict that Arhaus, Inc. will post 0.54 EPS for the current year.

Insiders Place Their Bets

In other news, Director Alton F. Doody III sold 3,500 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $8.47, for a total value of $29,645.00. Following the sale, the director owned 87,113 shares of the company’s stock, valued at approximately $737,847.11. The trade was a 3.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Craig Hallum upgraded Arhaus from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Thursday, August 6th. Robert W. Baird set a $10.00 price objective on shares of Arhaus in a research note on Friday, August 7th. Morgan Stanley boosted their target price on shares of Arhaus from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Arhaus from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Telsey Advisory Group lifted their price target on Arhaus from $8.00 to $10.00 and gave the stock a “market perform” rating in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Arhaus has a consensus rating of “Hold” and a consensus price target of $10.12.

Read Our Latest Stock Report on Arhaus

Arhaus Company Profile

(Free Report)

Arhaus, Inc is a lifestyle-oriented home furnishings company that designs, sources and sells furniture and décor for residential spaces. Its product assortment includes living room, bedroom, dining room and outdoor furniture, as well as rugs, lighting, textiles, mattresses, wall art and other home accessories. The company emphasizes distinctive designs, handcrafted details and materials sourced from around the world.

Arhaus sells its products through a combination of physical showrooms, its website and other direct-to-consumer channels.

Further Reading

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