Bank of New York Mellon Corp Lowers Stock Holdings in Arhaus, Inc. (NASDAQ:ARHS)

Bank of New York Mellon Corp lessened its position in shares of Arhaus, Inc. (NASDAQ:ARHS - Free Report) by 50.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 790,116 shares of the company's stock after selling 794,327 shares during the quarter. Bank of New York Mellon Corp owned about 0.56% of Arhaus worth $6,874,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in shares of Arhaus in the 4th quarter valued at approximately $58,000. KLP Kapitalforvaltning AS purchased a new position in shares of Arhaus in the 4th quarter valued at approximately $69,000. Cetera Investment Advisers purchased a new position in shares of Arhaus in the 4th quarter valued at approximately $99,000. Freestone Grove Partners LP purchased a new position in shares of Arhaus in the 4th quarter valued at approximately $113,000. Finally, Mariner LLC purchased a new position in shares of Arhaus in the 4th quarter valued at approximately $120,000. Hedge funds and other institutional investors own 27.88% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Loop Capital reduced their price target on Arhaus from $12.00 to $8.00 and set a "hold" rating for the company in a report on Friday, May 9th. Telsey Advisory Group reissued a "market perform" rating and issued a $10.00 price target on shares of Arhaus in a report on Thursday, May 15th. Raymond James Financial assumed coverage on Arhaus in a report on Monday, June 9th. They issued a "market perform" rating for the company. Robert W. Baird cut Arhaus from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $13.00 to $8.50 in a report on Monday, April 7th. Finally, Baird R W cut Arhaus from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $10.50.

Arhaus Price Performance

ARHS stock traded up $0.07 during midday trading on Friday, hitting $9.53. 2,241,645 shares of the stock were exchanged, compared to its average volume of 2,006,986. The stock's 50-day moving average price is $8.81 and its 200-day moving average price is $9.44. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 5.95 and a beta of 2.56. Arhaus, Inc. has a fifty-two week low of $6.61 and a fifty-two week high of $16.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.57 and a current ratio of 1.26.

Arhaus (NASDAQ:ARHS - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.03). Arhaus had a return on equity of 17.36% and a net margin of 4.53%. The company had revenue of $311.37 million during the quarter, compared to analyst estimates of $314.76 million. During the same period last year, the firm earned $0.11 earnings per share. The business's revenue was up 5.5% compared to the same quarter last year. Research analysts predict that Arhaus, Inc. will post 0.46 earnings per share for the current year.

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.