Jessup Wealth Management Inc Reduces Position in Arhaus, Inc. (NASDAQ:ARHS)

Jessup Wealth Management Inc decreased its stake in shares of Arhaus, Inc. (NASDAQ:ARHS - Free Report) by 25.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 86,038 shares of the company's stock after selling 28,968 shares during the quarter. Jessup Wealth Management Inc owned about 0.06% of Arhaus worth $749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of ARHS. BNP Paribas Financial Markets bought a new position in Arhaus during the 4th quarter valued at $58,000. KLP Kapitalforvaltning AS purchased a new stake in Arhaus in the 4th quarter worth about $69,000. AlphaQuest LLC increased its holdings in Arhaus by 190.2% in the 4th quarter. AlphaQuest LLC now owns 8,828 shares of the company's stock worth $83,000 after acquiring an additional 5,786 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Arhaus in the 4th quarter worth about $99,000. Finally, Freestone Grove Partners LP purchased a new stake in Arhaus in the 4th quarter worth about $113,000. Institutional investors and hedge funds own 27.88% of the company's stock.

Arhaus Stock Up 0.1%

ARHS stock traded up $0.01 during midday trading on Tuesday, hitting $9.18. The stock had a trading volume of 2,851,238 shares, compared to its average volume of 1,623,958. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 5.77 and a beta of 2.56. The business has a 50-day moving average of $8.63 and a two-hundred day moving average of $9.48. Arhaus, Inc. has a 52-week low of $6.61 and a 52-week high of $17.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.26 and a quick ratio of 0.57.

Arhaus (NASDAQ:ARHS - Get Free Report) last released 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 company had revenue of $311.37 million during the quarter, compared to analysts' expectations of $314.76 million. During the same period in the prior year, the company posted $0.11 earnings per share. The company's revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts forecast that Arhaus, Inc. will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ARHS shares. Wall Street Zen lowered Arhaus from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Robert W. Baird lowered Arhaus from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $13.00 to $8.50 in a report on Monday, April 7th. Baird R W lowered Arhaus from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Morgan Stanley reduced their target price on Arhaus from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Finally, Raymond James Financial started coverage on Arhaus in a report on Monday, June 9th. They set a "market perform" rating for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Arhaus currently has a consensus rating of "Hold" and an average target price 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.