Granite Investment Partners LLC Sells 888,154 Shares of Arhaus, Inc. $ARHS

Granite Investment Partners LLC trimmed its holdings in shares of Arhaus, Inc. (NASDAQ:ARHS) by 64.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 485,863 shares of the company’s stock after selling 888,154 shares during the period. Granite Investment Partners LLC’s holdings in Arhaus were worth $4,212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Long Focus Capital Management LLC grew its position in Arhaus by 35.2% during the first quarter. Long Focus Capital Management LLC now owns 1,520,800 shares of the company’s stock valued at $13,231,000 after buying an additional 395,800 shares during the period. Millennium Management LLC boosted its stake in Arhaus by 83.8% in the first quarter. Millennium Management LLC now owns 696,690 shares of the company’s stock valued at $6,061,000 after acquiring an additional 317,631 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Arhaus during the 1st quarter valued at approximately $2,383,000. EFG Asset Management North America Corp. purchased a new stake in shares of Arhaus during the 1st quarter worth approximately $1,795,000. Finally, American Century Companies Inc. raised its holdings in shares of Arhaus by 17.8% in the 1st quarter. American Century Companies Inc. now owns 1,184,953 shares of the company’s stock worth $10,309,000 after purchasing an additional 179,042 shares during the period. 27.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stifel Nicolaus increased their price objective on Arhaus from $10.00 to $14.00 and gave the company a “buy” rating in a report on Friday, August 15th. Gordon Haskett assumed coverage on Arhaus in a research report on Thursday, September 18th. They set a “hold” rating and a $12.00 price target on the stock. Morgan Stanley lifted their price objective on Arhaus from $10.00 to $12.50 and gave the stock an “equal weight” rating in a report on Friday, August 8th. Zacks Research cut Arhaus from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Finally, Piper Sandler reiterated a “neutral” rating and set a $11.00 target price (up previously from $9.00) on shares of Arhaus in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.11.

Arhaus Stock Performance

Shares of ARHS opened at $10.66 on Wednesday. Arhaus, Inc. has a 52-week low of $6.61 and a 52-week high of $13.02. The stock’s 50-day simple moving average is $10.08 and its 200 day simple moving average is $9.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.64 and a current ratio of 1.34. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 5.71 and a beta of 2.52.

Arhaus (NASDAQ:ARHS) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Arhaus had a return on equity of 19.62% and a net margin of 5.40%.The firm had revenue of $344.57 million for the quarter, compared to analysts’ expectations of $338.26 million. During the same period in the prior year, the business posted $0.07 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. Research analysts forecast that Arhaus, Inc. will post 0.46 EPS for the current fiscal year.

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.