Jessup Wealth Management Inc Has $2.23 Million Stock Holdings in Arhaus, Inc. (NASDAQ:ARHS)

Jessup Wealth Management Inc decreased its stake in shares of Arhaus, Inc. (NASDAQ:ARHS) by 20.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145,185 shares of the company’s stock after selling 36,248 shares during the quarter. Jessup Wealth Management Inc’s holdings in Arhaus were worth $2,234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC grew its holdings in Arhaus by 65.4% during the third quarter. Barclays PLC now owns 7,092 shares of the company’s stock worth $66,000 after purchasing an additional 2,803 shares during the period. Swiss National Bank boosted its stake in shares of Arhaus by 43.7% during the 3rd quarter. Swiss National Bank now owns 74,600 shares of the company’s stock worth $694,000 after acquiring an additional 22,700 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Arhaus during the 3rd quarter worth approximately $53,000. Acadian Asset Management LLC raised its stake in Arhaus by 28.3% in the 3rd quarter. Acadian Asset Management LLC now owns 84,535 shares of the company’s stock valued at $785,000 after acquiring an additional 18,653 shares during the period. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Arhaus by 710.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 250,844 shares of the company’s stock valued at $2,333,000 after purchasing an additional 219,886 shares during the last quarter. Institutional investors own 27.88% of the company’s stock.

Arhaus Price Performance

Shares of NASDAQ ARHS traded down $0.05 during midday trading on Friday, reaching $16.95. The company’s stock had a trading volume of 614,314 shares, compared to its average volume of 1,147,769. The company has a market cap of $2.38 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.64 and a beta of 2.65. Arhaus, Inc. has a fifty-two week low of $7.56 and a fifty-two week high of $19.81. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.61 and a current ratio of 1.21. The business’s 50 day moving average price is $16.48 and its two-hundred day moving average price is $14.18.

Arhaus (NASDAQ:ARHS) last released its earnings results on Thursday, May 9th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. The firm had revenue of $295.16 million during the quarter, compared to the consensus estimate of $263.23 million. Arhaus had a return on equity of 34.83% and a net margin of 8.30%. On average, analysts forecast that Arhaus, Inc. will post 0.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on ARHS. TD Cowen upped their price objective on shares of Arhaus from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, May 20th. Robert W. Baird upped their price target on shares of Arhaus from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Telsey Advisory Group restated an “outperform” rating and set a $17.00 price objective on shares of Arhaus in a research report on Thursday, May 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 target price (up previously from $19.00) on shares of Arhaus in a research report on Friday, May 10th. Finally, Bank of America lifted their price target on Arhaus from $14.50 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.56.

Insider Buying and Selling

In other Arhaus news, CFO Dawn Phillipson sold 150,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $18.97, for a total value of $2,845,500.00. Following the transaction, the chief financial officer now directly owns 499,555 shares of the company’s stock, valued at approximately $9,476,558.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Lisa Chi sold 1,500 shares of Arhaus stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $19.14, for a total value of $28,710.00. Following the transaction, the insider now owns 68,785 shares in the company, valued at approximately $1,316,544.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Dawn Phillipson sold 150,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $18.97, for a total value of $2,845,500.00. Following the sale, the chief financial officer now owns 499,555 shares of the company’s stock, valued at $9,476,558.35. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by company insiders.

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.