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

Jessup Wealth Management Inc lowered its stake in Arhaus, Inc. (NASDAQ:ARHS - Free Report) by 25.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,038 shares of the company's stock after selling 28,968 shares during the quarter. Jessup Wealth Management Inc owned 0.06% of Arhaus worth $749,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Arhaus by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,062,635 shares of the company's stock valued at $47,589,000 after purchasing an additional 50,250 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Arhaus by 32.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,590,184 shares of the company's stock worth $24,348,000 after buying an additional 627,952 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Arhaus by 1,532.9% in the 4th quarter. Bank of America Corp DE now owns 2,497,915 shares of the company's stock worth $23,480,000 after buying an additional 2,672,239 shares during the last quarter. Emerald Advisers LLC boosted its holdings in shares of Arhaus by 18.7% in the 4th quarter. Emerald Advisers LLC now owns 1,628,454 shares of the company's stock worth $15,307,000 after buying an additional 256,887 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Arhaus by 8.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,584,443 shares of the company's stock valued at $14,894,000 after acquiring an additional 120,582 shares during the period. Institutional investors own 27.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Loop Capital lowered their price objective on Arhaus from $12.00 to $8.00 and set a "hold" rating on the stock in a research note 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. Robert W. Baird cut shares of 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 research report on Monday, April 7th. Baird R W lowered Arhaus from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Finally, Raymond James Financial began coverage on Arhaus in a research note 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 assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Arhaus presently has an average rating of "Hold" and a consensus price target of $10.50.

Arhaus Stock Up 2.0%

ARHS traded up $0.18 during trading on Thursday, reaching $9.41. The stock had a trading volume of 2,895,483 shares, compared to its average volume of 1,633,592. The stock's 50 day moving average is $8.65 and its two-hundred day moving average is $9.48. The company has a current ratio of 1.26, a quick ratio of 0.57 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 5.78 and a beta of 2.56. Arhaus, Inc. has a one year low of $6.61 and a one year high of $17.27.

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

Arhaus Company 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.