Harbor Capital Advisors Inc. Grows Stock Holdings in Arhaus, Inc. (NASDAQ:ARHS)

Harbor Capital Advisors Inc. boosted its stake in Arhaus, Inc. (NASDAQ:ARHS) by 273.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 153,764 shares of the company’s stock after buying an additional 112,583 shares during the period. Harbor Capital Advisors Inc. owned 0.11% of Arhaus worth $2,605,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wasatch Advisors LP increased its stake in 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 acquiring an additional 5,233,776 shares during the last quarter. Vanguard Group Inc. lifted its position in Arhaus by 11.8% during 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 during the last quarter. Hood River Capital Management LLC grew its stake in shares of Arhaus by 0.6% in the 1st quarter. Hood River Capital Management LLC now owns 1,547,296 shares of the company’s stock worth $23,813,000 after buying an additional 8,824 shares in the last quarter. 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 valued at $19,420,000 after buying an additional 8,461 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Arhaus by 24.5% in the fourth quarter. Wellington Management Group LLP now owns 1,123,956 shares of the company’s stock worth $13,319,000 after acquiring an additional 221,009 shares in the last quarter. Hedge funds and other institutional investors own 27.88% of the company’s stock.

Arhaus Trading Down 4.2 %

ARHS stock traded down $0.60 during trading on Wednesday, reaching $13.70. 581,325 shares of the stock were exchanged, compared to its average volume of 1,201,239. The business has a 50 day moving average price of $16.81 and a 200-day moving average price of $15.10. Arhaus, Inc. has a 1 year low of $7.56 and a 1 year high of $19.81. The company has a current ratio of 1.21, a quick ratio of 0.61 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 2.13 and a beta of 2.57.

Arhaus (NASDAQ:ARHS) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.02 by $0.09. Arhaus had a net margin of 8.30% and a return on equity of 34.83%. The business had revenue of $295.16 million during the quarter, compared to analyst estimates of $263.23 million. On average, research analysts predict that Arhaus, Inc. will post 0.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Stifel Nicolaus assumed coverage on Arhaus in a research note on Tuesday, July 9th. They issued a “buy” rating and a $19.50 price objective on the stock. Piper Sandler reissued an “overweight” rating and set a $20.00 price objective (up from $19.00) on shares of Arhaus in a report on Friday, May 10th. Telsey Advisory Group reissued an “outperform” rating and issued a $18.00 price objective on shares of Arhaus in a report on Monday. TD Cowen lifted their target price on Arhaus from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Finally, Robert W. Baird raised their price target 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. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.86.

Insider Activity at Arhaus

In other Arhaus news, insider Lisa Chi sold 1,500 shares of the company’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 sale, the insider now owns 68,785 shares in the company, valued at approximately $1,316,544.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Venkatachalam Nachiappan sold 6,460 shares of the 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 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 available at this hyperlink. Also, insider Lisa Chi sold 1,500 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $19.14, for a total transaction of $28,710.00. Following the completion of the transaction, the insider now directly owns 68,785 shares in the company, valued at $1,316,544.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 157,960 shares of company stock worth $2,978,281. Company insiders own 1.52% of the company’s stock.

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.