Granite Investment Partners LLC Takes Position in Arhaus, Inc. (NASDAQ:ARHS)

Granite Investment Partners LLC purchased a new position in shares of Arhaus, Inc. (NASDAQ:ARHS) during the fourth quarter, HoldingsChannel reports. The fund purchased 506,246 shares of the company’s stock, valued at approximately $4,759,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CenterBook Partners LP increased its holdings in shares of Arhaus by 49.6% during the fourth quarter. CenterBook Partners LP now owns 769,453 shares of the company’s stock worth $7,233,000 after purchasing an additional 255,065 shares during the period. Raymond James Financial Inc. acquired a new stake in Arhaus during the fourth quarter worth approximately $530,000. Legal & General Group Plc grew its position in Arhaus by 4.3% during the fourth quarter. Legal & General Group Plc now owns 37,440 shares of the company’s stock worth $352,000 after buying an additional 1,531 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in Arhaus during the 4th quarter worth $539,000. Finally, Wells Fargo & Company MN raised its holdings in Arhaus by 46.9% in the 4th quarter. Wells Fargo & Company MN now owns 24,828 shares of the company’s stock valued at $233,000 after acquiring an additional 7,925 shares in the last quarter. Institutional investors and hedge funds own 27.88% of the company’s stock.

Arhaus Stock Performance

NASDAQ ARHS opened at $7.90 on Monday. The firm’s fifty day moving average price is $9.88 and its two-hundred day moving average price is $10.10. The stock has a market cap of $1.11 billion, a PE ratio of 14.11, a PEG ratio of 11.57 and a beta of 2.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 1.23. Arhaus, Inc. has a fifty-two week low of $6.61 and a fifty-two week high of $19.81.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ARHS. Baird R W lowered Arhaus from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Jefferies Financial Group raised their target price on shares of Arhaus from $9.50 to $10.00 and gave the company a “hold” rating in a report on Friday, January 10th. Loop Capital assumed coverage on shares of Arhaus in a report on Friday, January 24th. They set a “hold” rating and a $12.00 price target for the company. Piper Sandler lowered shares of Arhaus from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $12.00 in a research report on Thursday, February 27th. Finally, Robert W. Baird downgraded shares of Arhaus from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $13.00 to $8.50 in a research report on Monday, April 7th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Arhaus currently has an average rating of “Hold” and an average price target of $11.18.

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.