Arhaus, Inc. (NASDAQ:ARHS – Get Free Report) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 3,740,000 shares, a decrease of 5.6% from the August 31st total of 3,960,000 shares. Based on an average daily volume of 974,100 shares, the days-to-cover ratio is presently 3.8 days. Currently, 11.1% of the shares of the company are sold short.
Insider Activity at Arhaus
In related news, insider Dawn Sparks sold 70,363 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $12.00, for a total transaction of $844,356.00. Following the completion of the transaction, the insider now directly owns 310,456 shares in the company, valued at approximately $3,725,472. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Dawn Sparks sold 70,363 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $12.00, for a total value of $844,356.00. Following the completion of the transaction, the insider now directly owns 310,456 shares of the company’s stock, valued at approximately $3,725,472. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Fs Capital Partners Vi, Llc sold 13,800,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $10.00, for a total value of $138,000,000.00. Following the sale, the insider now owns 16,724,202 shares in the company, valued at $167,242,020. The disclosure for this sale can be found here. 1.52% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Arhaus
A number of hedge funds have recently modified their holdings of the business. State of Wyoming boosted its holdings in Arhaus by 6.5% in the fourth quarter. State of Wyoming now owns 13,543 shares of the company’s stock valued at $132,000 after acquiring an additional 824 shares during the last quarter. Man Group plc raised its position in shares of Arhaus by 3.1% in the 4th quarter. Man Group plc now owns 65,735 shares of the company’s stock worth $641,000 after acquiring an additional 1,991 shares in the last quarter. State Street Corp lifted its stake in shares of Arhaus by 2.7% in the 2nd quarter. State Street Corp now owns 78,762 shares of the company’s stock valued at $821,000 after purchasing an additional 2,049 shares during the period. Stifel Financial Corp boosted its position in shares of Arhaus by 3.8% during the 2nd quarter. Stifel Financial Corp now owns 59,498 shares of the company’s stock valued at $621,000 after purchasing an additional 2,189 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in Arhaus by 12.8% in the second quarter. California State Teachers Retirement System now owns 20,949 shares of the company’s stock worth $218,000 after purchasing an additional 2,375 shares in the last quarter. Institutional investors and hedge funds own 23.49% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Barclays raised their price target on Arhaus from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Thursday, August 10th. Craig Hallum boosted their price objective on shares of Arhaus from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Piper Sandler boosted their price target on shares of Arhaus from $13.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. TheStreet upgraded Arhaus from a “d+” rating to a “c-” rating in a report on Wednesday, July 19th. Finally, Morgan Stanley boosted their price objective on Arhaus from $9.00 to $12.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.44.
Arhaus Stock Performance
ARHS opened at $9.30 on Monday. The company has a quick ratio of 0.66, a current ratio of 1.51 and a debt-to-equity ratio of 0.19. Arhaus has a 12-month low of $6.75 and a 12-month high of $15.27. The business has a 50 day moving average of $10.37 and a 200-day moving average of $9.23. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 8.23 and a beta of 2.56.
Arhaus (NASDAQ:ARHS – Get Free Report) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $312.90 million for the quarter, compared to analyst estimates of $326.27 million. Arhaus had a net margin of 12.23% and a return on equity of 71.15%. On average, equities research analysts expect that Arhaus will post 0.83 earnings per share for the current year.
About Arhaus
Arhaus, Inc operates as a lifestyle brand and premium retailer in the home furnishings market. 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, etc.; and outdoor products, such as outdoor dining tables, chairs, chaises and other furniture, lighting, textiles, décor, umbrellas, and fire pits.