Jessup Wealth Management Inc Trims Stock Holdings in Arhaus, Inc. (NASDAQ:ARHS)

Jessup Wealth Management Inc cut its holdings in shares of Arhaus, Inc. (NASDAQ:ARHS) by 20.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,185 shares of the company’s stock after selling 36,248 shares during the period. Jessup Wealth Management Inc owned 0.10% of Arhaus worth $2,234,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wasatch Advisors LP acquired a new stake in Arhaus during the 4th quarter worth $42,167,000. Vanguard Group Inc. boosted its stake in shares of Arhaus by 61.1% during the third quarter. Vanguard Group Inc. now owns 3,059,110 shares of the company’s stock worth $28,450,000 after buying an additional 1,159,856 shares during the period. Scopus Asset Management L.P. purchased a new position in shares of Arhaus during the third quarter worth about $17,671,000. Wellington Management Group LLP increased its position in Arhaus by 24.5% in the 4th quarter. Wellington Management Group LLP now owns 1,123,956 shares of the company’s stock valued at $13,319,000 after acquiring an additional 221,009 shares during the period. Finally, FACT Capital LP raised its stake in Arhaus by 63.6% during the 4th quarter. FACT Capital LP now owns 798,931 shares of the company’s stock valued at $9,467,000 after acquiring an additional 310,566 shares during the last quarter. 27.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arhaus

In other Arhaus news, insider Lisa Chi sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $19.14, for a total transaction of $28,710.00. Following the transaction, the insider now owns 68,785 shares in the company, valued at $1,316,544.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Arhaus news, insider Lisa Chi sold 1,500 shares of Arhaus stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $19.14, for a total transaction of $28,710.00. Following the sale, the insider now directly owns 68,785 shares in the company, valued at approximately $1,316,544.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dawn Phillipson sold 150,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $18.97, for a total value of $2,845,500.00. Following the completion of the sale, the chief financial officer now directly owns 499,555 shares in the company, valued at $9,476,558.35. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARHS. Telsey Advisory Group restated an “outperform” rating and set a $17.00 price target on shares of Arhaus in a research note on Thursday, May 9th. Bank of America lifted their price target on Arhaus from $14.50 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Robert W. Baird upped their target price on shares of Arhaus from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. TD Cowen raised their price target on Arhaus from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Finally, Piper Sandler restated an “overweight” rating and set a $20.00 price objective (up from $19.00) on shares of Arhaus in a research report on Friday, May 10th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.56.

Arhaus Trading Down 0.3 %

ARHS stock traded down $0.05 on Friday, hitting $16.95. 614,314 shares of the company were exchanged, compared to its average volume of 1,147,769. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 2.64 and a beta of 2.65. The business’s fifty day moving average is $16.48 and its two-hundred day moving average is $14.18. Arhaus, Inc. has a twelve month low of $7.56 and a twelve month high of $19.81. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.21 and a quick ratio of 0.61.

Arhaus (NASDAQ:ARHS) last issued its earnings results on Thursday, May 9th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. The firm had revenue of $295.16 million for the quarter, compared to analysts’ expectations of $263.23 million. Arhaus had a return on equity of 34.83% and a net margin of 8.30%. As a group, research analysts forecast that Arhaus, Inc. will post 0.76 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.