Jessup Wealth Management Inc Has $1.43 Million Stock Position in Arhaus, Inc. (NASDAQ:ARHS)

Jessup Wealth Management Inc lowered its position in Arhaus, Inc. (NASDAQ:ARHS) by 19.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,906 shares of the company’s stock after selling 27,850 shares during the quarter. Arhaus makes up approximately 0.7% of Jessup Wealth Management Inc’s holdings, making the stock its 26th biggest position. Jessup Wealth Management Inc owned about 0.08% of Arhaus worth $1,427,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Amalgamated Bank acquired a new stake in shares of Arhaus in the 2nd quarter valued at $30,000. Quest Partners LLC lifted its position in shares of Arhaus by 716,800.0% in the second quarter. Quest Partners LLC now owns 7,169 shares of the company’s stock worth $121,000 after buying an additional 7,168 shares during the last quarter. Ground Swell Capital LLC bought a new stake in shares of Arhaus during the 2nd quarter worth about $183,000. Ballentine Partners LLC acquired a new position in shares of Arhaus during the 1st quarter valued at about $204,000. Finally, Aspiriant LLC bought a new position in shares of Arhaus in the 1st quarter valued at approximately $204,000. 27.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARHS has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $12.00 price target on shares of Arhaus in a research report on Wednesday. Wedbush started coverage on shares of Arhaus in a report on Friday. They issued a “neutral” rating and a $11.00 target price on the stock. Craig Hallum decreased their price target on shares of Arhaus from $21.00 to $14.00 and set a “buy” rating for the company in a report on Friday, August 9th. TD Cowen lowered their price target on Arhaus from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Robert W. Baird cut their price objective on Arhaus from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.27.

Arhaus Stock Up 0.9 %

Shares of ARHS stock traded up $0.09 during trading hours on Friday, hitting $10.46. 218,004 shares of the company were exchanged, compared to its average volume of 1,249,899. Arhaus, Inc. has a 52 week low of $7.56 and a 52 week high of $19.81. The company has a current ratio of 1.25, a quick ratio of 0.55 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average of $12.03 and a two-hundred day moving average of $14.65. The company has a market capitalization of $1.47 billion, a PE ratio of 16.46, a PEG ratio of 12.08 and a beta of 2.51.

Arhaus (NASDAQ:ARHS) last released its earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm had revenue of $309.80 million for the quarter, compared to analysts’ expectations of $314.28 million. Arhaus had a return on equity of 28.45% and a net margin of 6.92%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. Analysts anticipate that Arhaus, Inc. will post 0.48 earnings per share for the current fiscal year.

Insider Activity at Arhaus

In related news, insider Venkatachalam Nachiappan sold 6,460 shares of Arhaus stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $16.11, for a total transaction of $104,070.60. Following the completion of the sale, the insider now owns 36,736 shares of the company’s stock, valued at approximately $591,816.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.52% of the stock is owned by company insiders.

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.