CenterBook Partners LP Increases Holdings in Arhaus, Inc. (NASDAQ:ARHS)

CenterBook Partners LP increased its position in Arhaus, Inc. (NASDAQ:ARHS - Free Report) by 145.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,891,457 shares of the company's stock after purchasing an additional 1,122,004 shares during the quarter. Arhaus makes up 1.0% of CenterBook Partners LP's portfolio, making the stock its 14th biggest position. CenterBook Partners LP owned 1.35% of Arhaus worth $16,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Arhaus by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,152 shares of the company's stock valued at $274,000 after acquiring an additional 984 shares in the last quarter. Legal & General Group Plc increased its position in shares of Arhaus by 4.3% during the 4th quarter. Legal & General Group Plc now owns 37,440 shares of the company's stock worth $352,000 after purchasing an additional 1,531 shares during the last quarter. Rhumbline Advisers increased its position in shares of Arhaus by 3.2% during the 1st quarter. Rhumbline Advisers now owns 73,761 shares of the company's stock worth $642,000 after purchasing an additional 2,255 shares during the last quarter. Arizona State Retirement System increased its position in shares of Arhaus by 24.9% during the 1st quarter. Arizona State Retirement System now owns 14,525 shares of the company's stock worth $126,000 after purchasing an additional 2,899 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Arhaus by 7.2% during the 4th quarter. Janus Henderson Group PLC now owns 47,402 shares of the company's stock worth $446,000 after acquiring an additional 3,185 shares during the last quarter. 27.88% of the stock is currently owned by institutional investors and hedge funds.

Arhaus Stock Down 1.0%

NASDAQ:ARHS traded down $0.08 during trading hours on Wednesday, reaching $8.07. 2,391,452 shares of the company traded hands, compared to its average volume of 1,653,733. The business's 50-day moving average price is $8.72 and its two-hundred day moving average price is $9.46. The stock has a market capitalization of $1.14 billion, a P/E ratio of 19.68, a P/E/G ratio of 5.53 and a beta of 2.56. Arhaus, Inc. has a 1 year low of $6.61 and a 1 year high of $17.27. The company has a current ratio of 1.26, a quick ratio of 0.57 and a debt-to-equity ratio of 0.15.

Arhaus (NASDAQ:ARHS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.03 EPS 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 business had revenue of $311.37 million during the quarter, compared to the consensus estimate of $314.76 million. During the same period in the previous year, the business posted $0.11 EPS. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. Analysts predict that Arhaus, Inc. will post 0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ARHS shares. Loop Capital decreased their target price on Arhaus from $12.00 to $8.00 and set a "hold" rating on the stock in a report on Friday, May 9th. Telsey Advisory Group reiterated a "market perform" rating and set a $10.00 target price on shares of Arhaus in a research report on Thursday, May 15th. Piper Sandler dropped their price objective on Arhaus from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Morgan Stanley dropped their price objective on Arhaus from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Finally, Robert W. Baird downgraded Arhaus from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $13.00 to $8.50 in a research report on Monday, April 7th. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Arhaus currently has an average rating of "Hold" and a consensus price target of $10.50.

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.