North Growth Management Ltd. Purchases 72,000 Shares of Arhaus, Inc. (NASDAQ:ARHS)

North Growth Management Ltd. boosted its position in shares of Arhaus, Inc. (NASDAQ:ARHS) by 15.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 553,000 shares of the company’s stock after purchasing an additional 72,000 shares during the quarter. North Growth Management Ltd.’s holdings in Arhaus were worth $6,813,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Amalgamated Bank purchased a new position in shares of Arhaus during the second quarter valued at $30,000. Quest Partners LLC lifted its stake in 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 acquiring an additional 7,168 shares during the period. Ground Swell Capital LLC bought a new position in Arhaus during the 2nd quarter worth about $183,000. Olympiad Research LP purchased a new position in Arhaus during the 3rd quarter valued at about $202,000. Finally, Handelsbanken Fonder AB bought a new stake in shares of Arhaus in the 3rd quarter valued at about $207,000. 27.88% of the stock is owned by institutional investors.

Arhaus Price Performance

NASDAQ ARHS opened at $9.79 on Tuesday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 11.70 and a beta of 2.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.25 and a quick ratio of 0.55. The stock’s fifty day moving average price is $10.60 and its 200 day moving average price is $13.74. Arhaus, Inc. has a 1 year low of $8.22 and a 1 year high of $19.81.

Arhaus (NASDAQ:ARHS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Arhaus had a net margin of 6.18% and a return on equity of 25.10%. The firm had revenue of $319.13 million during the quarter, compared to analyst estimates of $328.94 million. During the same period in the prior year, the company posted $0.14 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities research analysts forecast that Arhaus, Inc. will post 0.42 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on ARHS shares. Bank of America downgraded shares of Arhaus from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $11.00 in a research note on Thursday, November 7th. Stifel Nicolaus reduced their price target on Arhaus from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Craig Hallum lowered shares of Arhaus from a “buy” rating to a “hold” rating and decreased their price target for the company from $14.00 to $10.00 in a research report on Tuesday, October 15th. Robert W. Baird cut their price objective on shares of Arhaus from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, Telsey Advisory Group downgraded shares of Arhaus from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $12.00 to $11.00 in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.80.

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.