Lazard Asset Management LLC Acquires 5,776 Shares of Arhaus, Inc. (NASDAQ:ARHS)

Lazard Asset Management LLC lifted its holdings in shares of Arhaus, Inc. (NASDAQ:ARHSGet Rating) by 65.0% during the 2nd quarter, Holdings Channel reports. The firm owned 14,668 shares of the company’s stock after purchasing an additional 5,776 shares during the period. Lazard Asset Management LLC’s holdings in Arhaus were worth $66,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Signaturefd LLC increased its holdings in shares of Arhaus by 100.0% during the first quarter. Signaturefd LLC now owns 4,000 shares of the company’s stock worth $34,000 after purchasing an additional 2,000 shares during the period. Hood River Capital Management LLC increased its holdings in shares of Arhaus by 0.3% during the first quarter. Hood River Capital Management LLC now owns 891,643 shares of the company’s stock worth $7,588,000 after purchasing an additional 2,415 shares during the period. Beacon Investment Advisory Services Inc. increased its holdings in shares of Arhaus by 28.1% during the first quarter. Beacon Investment Advisory Services Inc. now owns 15,975 shares of the company’s stock worth $136,000 after purchasing an additional 3,500 shares during the period. UBS Group AG bought a new position in shares of Arhaus during the first quarter worth approximately $36,000. Finally, Blair William & Co. IL increased its stake in Arhaus by 38.9% in the first quarter. Blair William & Co. IL now owns 36,611 shares of the company’s stock valued at $312,000 after acquiring an additional 10,258 shares during the last quarter. 30.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ARHS. Barclays decreased their price objective on shares of Arhaus to $13.00 in a research note on Wednesday, November 16th. William Blair reissued an “outperform” rating on shares of Arhaus in a research note on Friday, October 28th. Telsey Advisory Group decreased their price objective on shares of Arhaus from $12.00 to $9.00 and set an “outperform” rating on the stock in a research note on Monday, August 8th. Finally, Morgan Stanley lifted their price objective on shares of Arhaus from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, November 11th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arhaus presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.38.

Arhaus Stock Performance

Shares of Arhaus stock opened at $9.06 on Friday. Arhaus, Inc. has a fifty-two week low of $4.23 and a fifty-two week high of $14.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.14 and a quick ratio of 0.45. The firm has a market capitalization of $1.27 billion and a P/E ratio of 12.76. The company’s 50 day moving average price is $8.11 and its two-hundred day moving average price is $7.01.

Insider Buying and Selling at Arhaus

In related news, Director Alton F. Doody III bought 11,750 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were purchased at an average price of $8.50 per share, for a total transaction of $99,875.00. Following the completion of the transaction, the director now directly owns 23,500 shares of the company’s stock, valued at approximately $199,750. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Arhaus Profile

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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 and modular storage, etc.; and outdoor products include outdoor dining tables, chairs, chaises and other furniture, lighting, textiles, décor, umbrellas, and fire pits.

Further Reading

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Institutional Ownership by Quarter for Arhaus (NASDAQ:ARHS)

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