Summit Creek Advisors LLC Sells 311,534 Shares of Arhaus, Inc. (NASDAQ:ARHS)

Summit Creek Advisors LLC lessened its position in shares of Arhaus, Inc. (NASDAQ:ARHS) by 24.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 950,303 shares of the company’s stock after selling 311,534 shares during the quarter. Arhaus comprises 2.2% of Summit Creek Advisors LLC’s holdings, making the stock its 20th biggest position. Summit Creek Advisors LLC’s holdings in Arhaus were worth $16,098,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ARHS. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Arhaus by 68.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,979 shares of the company’s stock worth $106,000 after acquiring an additional 3,635 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in Arhaus during the 4th quarter worth approximately $1,029,000. Sapient Capital LLC purchased a new stake in Arhaus during the 4th quarter worth approximately $118,000. National Bank of Canada FI grew its position in Arhaus by 647.1% during the 4th quarter. National Bank of Canada FI now owns 6,350 shares of the company’s stock worth $74,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Arhaus during the 4th quarter worth approximately $119,000. Institutional investors own 27.88% of the company’s stock.

Arhaus Stock Performance

Shares of NASDAQ ARHS opened at $11.13 on Friday. The company’s fifty day moving average price is $14.03 and its 200 day moving average price is $15.05. Arhaus, Inc. has a 1 year low of $7.56 and a 1 year high of $19.81. The company has a market capitalization of $1.56 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 14.05 and a beta of 2.57. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.55 and a current ratio of 1.25.

Arhaus (NASDAQ:ARHS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Arhaus had a net margin of 6.92% and a return on equity of 28.45%. The firm had revenue of $309.80 million for the quarter, compared to the consensus estimate of $314.28 million. During the same period in the prior year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, research analysts predict that Arhaus, Inc. will post 0.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of Arhaus from a “buy” rating to a “hold” rating and dropped their target price for the stock from $22.00 to $16.00 in a research report on Monday, July 8th. Barclays dropped their target price on shares of Arhaus from $17.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Craig Hallum dropped their target price on shares of Arhaus from $21.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 price objective (up from $19.00) on shares of Arhaus in a report on Friday, May 10th. Finally, Robert W. Baird dropped their price objective on shares of Arhaus from $18.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Insider Buying and Selling

In other Arhaus news, CFO Dawn Phillipson sold 150,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $18.97, for a total transaction of $2,845,500.00. Following the completion of the transaction, the chief financial officer now directly owns 499,555 shares in the company, valued at $9,476,558.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arhaus news, insider Venkatachalam Nachiappan sold 6,460 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $16.11, for a total transaction of $104,070.60. Following the completion of the transaction, the insider now directly owns 36,736 shares in the company, valued at $591,816.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $2,845,500.00. Following the transaction, 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 insiders.

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.