Corebridge Financial Inc. Sells 1,922 Shares of Arhaus, Inc. (NASDAQ:ARHS)

Corebridge Financial Inc. cut its holdings in shares of Arhaus, Inc. (NASDAQ:ARHS) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,473 shares of the company’s stock after selling 1,922 shares during the quarter. Corebridge Financial Inc.’s holdings in Arhaus were worth $239,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Arhaus by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,062,635 shares of the company’s stock worth $47,589,000 after acquiring an additional 50,250 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Arhaus by 1,808.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,962,232 shares of the company’s stock valued at $24,155,000 after acquiring an additional 1,859,398 shares during the period. Emerald Advisers LLC boosted its holdings in Arhaus by 18.7% in the fourth quarter. Emerald Advisers LLC now owns 1,628,454 shares of the company’s stock worth $15,307,000 after purchasing an additional 256,887 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Arhaus by 8.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,584,443 shares of the company’s stock worth $14,894,000 after acquiring an additional 120,582 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Arhaus by 107.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,231,556 shares of the company’s stock valued at $15,160,000 after purchasing an additional 636,691 shares during the last quarter. Institutional investors own 27.88% of the company’s stock.

Arhaus Trading Down 1.1 %

Shares of Arhaus stock opened at $7.90 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 1.23. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 11.57 and a beta of 2.64. The stock has a 50 day moving average of $9.88 and a 200 day moving average of $10.12. Arhaus, Inc. has a fifty-two week low of $6.61 and a fifty-two week high of $19.81.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ARHS shares. Robert W. Baird cut 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. Piper Sandler downgraded Arhaus from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $12.00 in a research note on Thursday, February 27th. Stifel Nicolaus dropped their price target on Arhaus from $14.00 to $11.50 and set a “buy” rating for the company in a research report on Monday, March 3rd. Loop Capital started coverage on shares of Arhaus in a research report on Friday, January 24th. They set a “hold” rating and a $12.00 price objective on the stock. Finally, Telsey Advisory Group restated an “outperform” rating and set a $11.00 price objective on shares of Arhaus in a report on Wednesday, February 26th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Arhaus currently has an average rating of “Hold” and an average target price of $11.18.

Arhaus Company Profile

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.