Millennium Management LLC Invests $3.56 Million in Arhaus, Inc. (NASDAQ:ARHS)

Millennium Management LLC bought a new position in shares of Arhaus, Inc. (NASDAQ:ARHS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 379,059 shares of the company's stock, valued at approximately $3,563,000. Millennium Management LLC owned 0.27% of Arhaus at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Arhaus by 1.0% in the fourth 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 last quarter. JPMorgan Chase & Co. boosted its position in Arhaus by 32.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,590,184 shares of the company's stock worth $24,348,000 after acquiring an additional 627,952 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Arhaus by 1,532.9% during the 4th quarter. Bank of America Corp DE now owns 2,497,915 shares of the company's stock worth $23,480,000 after purchasing an additional 2,672,239 shares during the period. Emerald Advisers LLC lifted its stake in shares of Arhaus by 18.7% during the 4th quarter. Emerald Advisers LLC now owns 1,628,454 shares of the company's stock worth $15,307,000 after purchasing an additional 256,887 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Arhaus by 8.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,584,443 shares of the company's stock worth $14,894,000 after purchasing an additional 120,582 shares during the period. 27.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on ARHS. Piper Sandler reduced their price target on Arhaus from $12.00 to $10.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Robert W. Baird lowered Arhaus from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $13.00 to $8.50 in a research note on Monday, April 7th. Wall Street Zen lowered Arhaus from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Stifel Nicolaus reduced their price target on Arhaus from $11.50 to $10.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Finally, Baird R W lowered Arhaus from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Arhaus has an average rating of "Hold" and an average price target of $10.50.

Arhaus Stock Up 1.3%

Arhaus stock traded up $0.11 during midday trading on Wednesday, hitting $8.84. 1,615,900 shares of the stock were exchanged, compared to its average volume of 1,638,775. Arhaus, Inc. has a 1 year low of $6.61 and a 1 year high of $19.81. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.52. The firm has a market cap of $1.25 billion, a P/E ratio of 15.79, a P/E/G ratio of 11.57 and a beta of 2.65. The company has a 50 day moving average price of $8.21 and a two-hundred day moving average price of $9.70.

Arhaus (NASDAQ:ARHS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.03). Arhaus had a return on equity of 24.92% and a net margin of 6.18%. The business had revenue of $311.37 million for the quarter, compared to analysts' expectations of $314.76 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The firm's revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts predict that Arhaus, Inc. will post 0.46 earnings per share for the current fiscal 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.