The Vanguard Group, Inc. recently announced the acquisition of new stake in Arhaus Inc (NASDAQ:ARHS). The institutional investor has increased its shareholding in the Consumer Cyclical company by 60.97% to 3.02 million shares with purchase of 1.14 million shares. This fresh investment now brings its stake to 5.68% valued currently at $28.13 million. In addition, Scopus Asset Management LP raised its holdings by 1.9 million to 1.9 million shares.
With over 0.49 million Arhaus Inc (ARHS) shares trading Friday and a closing price of $11.52 on the day, the dollar volume was approximately $5.63 million. The shares have shown a positive half year performance of 21.90% and its price on 12/22/23 gained nearly 1.50%. Currently, there are 51.44M common shares owned by the public and among those 38.50M shares have been available to trade.
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Insiders at the company have transacted a total of 27 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 160,235 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 18,523,441 shares.
The top 3 mutual fund holders in Arhaus Inc are Vanguard Total Stock Market ETF, Hood River Small-Cap Growth Fund, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market ETF owns 0.99 million shares of the company’s stock, all valued at over $9.26 million. Vanguard Small Cap Index Fund bought 2508.0 shares to bring its total holdings to over 0.82 million shares at a value of $7.66 million. Vanguard Small Cap Index Fund now owns shares totaling to 1.55% of the shares outstanding.
Shares of Arhaus Inc (NASDAQ: ARHS) opened at $11.34, down -$0.01 from a prior closing price of $11.35. The company’s stock has a 5-day price change of 7.06% and 25.63% over the past three months. ARHS shares are trading 18.15% year to date (YTD), with the 12-month market performance up to 17.67% higher. It has a 12-month low price of $6.75 and touched a high of $15.27 over the same period. ARHS has an average intraday trading volume of 840.51K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 16.57%, 25.17%, and 24.72% respectively.
Institutional ownership of Arhaus Inc (NASDAQ: ARHS) shares accounts for 21.43% of the company’s 51.44M shares outstanding. Mutual fund holders own 3.77%, while other institutional holders and individual stakeholders account for 41.48% and 15.06% respectively.
It has a market capitalization of $1.61B and a beta (3y monthly) value of 2.40. The stock’s trailing 12-month PE ratio is 11.43, while the earnings-per-share (ttm) stands at $1.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.32% over the week and 3.91% over the month.
Analysts forecast that Arhaus Inc (ARHS) will achieve an EPS of $0.16 for the current quarter, $0.13 for the next quarter and $0.75 for 2024. The lowest estimate earnings-per-share for the quarter is $0.15 while analysts give the company a high EPS estimate of $0.18. Comparatively, EPS for the current quarter was $0.34 a year ago. Earnings per share for the fiscal year are expected to decrease by -17.83%, and -9.98% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate Arhaus Inc (ARHS) as a “Strong Buy” at a consensus score of 1.36. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 1 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ARHS, a number of firms have released research notes about the stock. Craig Hallum stated their Buy rating for the stock in a research note on June 27, 2023, with the firm’s price target at $15.
