US home furnishings retailer Arhaus has seen a major shift in its shareholder base after Signaturefd LLC sharply reduced its holding in the company.
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According to a recent regulatory filing, Signaturefd cut its stake by 82.2% during the third quarter, selling 982,401 shares and retaining 212,132 shares, valued at approximately $2.26m and representing around 0.15% of the business.
The reduction came as other institutional investors increased their exposure. Wasatch Advisors raised its holding to more than 12.7 million shares, while Voya Investment Management expanded its position significantly during the same period. Institutional investors now collectively own about 27.9% of Arhaus.
Analysts currently maintain a consensus rating of "Hold" on the stock, with an average price target of $11.11. Shares were trading slightly above that level following a quarter in which Arhaus exceeded earnings and revenue expectations, reporting an 8% year-on-year increase in revenue.
Arhaus operates a nationwide network of showrooms alongside an established e-commerce platform, focusing on premium home furnishings and décor.
Source: www.marketbeat.com
