Summit Creek Advisors LLC Cuts Stock Holdings in Arhaus, Inc. (NASDAQ:ARHS)

Summit Creek Advisors LLC decreased its position in shares of Arhaus, Inc. (NASDAQ:ARHS) by 24.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 950,303 shares of the company’s stock after selling 311,534 shares during the quarter. Arhaus accounts for 2.2% of Summit Creek Advisors LLC’s portfolio, making the stock its 20th largest position. Summit Creek Advisors LLC owned about 0.68% of Arhaus worth $16,098,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ARHS. National Bank of Canada FI grew its holdings in shares of Arhaus by 647.1% during the fourth quarter. National Bank of Canada FI now owns 6,350 shares of the company’s stock valued at $74,000 after buying an additional 5,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Arhaus by 68.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,979 shares of the company’s stock valued at $106,000 after buying an additional 3,635 shares during the last quarter. Sapient Capital LLC purchased a new stake in shares of Arhaus during the fourth quarter valued at approximately $118,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Arhaus during the fourth quarter valued at approximately $119,000. Finally, Versor Investments LP purchased a new stake in Arhaus in the fourth quarter worth approximately $171,000. Hedge funds and other institutional investors own 27.88% of the company’s stock.

Insider Buying and Selling at Arhaus

In other Arhaus news, CFO Dawn Phillipson sold 150,000 shares of Arhaus stock in a transaction on Monday, June 10th. The shares were sold at an average price of $18.97, for a total value of $2,845,500.00. Following the completion of the transaction, the chief financial officer now directly owns 499,555 shares of the company’s stock, valued at approximately $9,476,558.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Arhaus news, insider Venkatachalam Nachiappan sold 6,460 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $16.11, for a total value of $104,070.60. Following the completion of the sale, the insider now directly owns 36,736 shares of the company’s stock, valued at approximately $591,816.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Dawn Phillipson sold 150,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $18.97, for a total transaction of $2,845,500.00. Following the completion of the sale, the chief financial officer now directly owns 499,555 shares of the company’s stock, valued at $9,476,558.35. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

Arhaus Stock Down 1.1 %

ARHS opened at $11.13 on Friday. The company has a market capitalization of $1.56 billion, a PE ratio of 14.64, a PEG ratio of 14.05 and a beta of 2.57. Arhaus, Inc. has a 1-year low of $7.56 and a 1-year high of $19.81. The firm’s 50 day simple moving average is $14.03 and its two-hundred day simple moving average is $15.05. The company has a current ratio of 1.25, a quick ratio of 0.55 and a debt-to-equity ratio of 0.17.

Arhaus (NASDAQ:ARHS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.16 EPS for the quarter, beating 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 company’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. As a group, equities analysts forecast that Arhaus, Inc. will post 0.48 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Arhaus from $19.50 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Telsey Advisory Group restated an “outperform” rating and issued a $15.00 target price on shares of Arhaus in a report on Monday, August 12th. Jefferies Financial Group cut shares of Arhaus from a “buy” rating to a “hold” rating and dropped their target price for the stock from $22.00 to $16.00 in a report on Monday, July 8th. Robert W. Baird dropped their target price on shares of Arhaus from $18.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, TD Cowen dropped their target price on shares of Arhaus from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Arhaus presently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

About Arhaus

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.