The Lovesac Company (NASDAQ:LOVE) Director Walter Field Mclallen Acquires 1,000 Shares

The Lovesac Company (NASDAQ:LOVE) Director Walter Field Mclallen acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of $23.80 per share, with a total value of $23,800.00. Following the acquisition, the director now directly owns 24,540 shares of the company’s stock, valued at $584,052. The trade was a 4.25 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Walter Field Mclallen also recently made the following trade(s):

• On Friday, December 20th, Walter Field Mclallen acquired 4,000 shares of Lovesac stock. The shares were bought at an average price of $24.68 per share, with a total value of $98,720.00.

Lovesac Stock Up 4.2 %

Shares of NASDAQ:LOVE opened at $24.88 on Thursday. The firm has a market capitalization of $383.97 million, a PE ratio of 73.18, a P/E/G ratio of 1.49 and a beta of 2.97. The Lovesac Company has a twelve month low of $18.21 and a twelve month high of $39.49. The company has a 50-day moving average price of $31.35 and a two-hundred day moving average price of $27.14.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. Lovesac had a net margin of 1.04% and a return on equity of 3.46%. The company had revenue of $149.90 million during the quarter, compared to analyst estimates of $155.26 million. During the same period last year, the business earned ($0.15) earnings per share. Lovesac’s revenue was down 2.7% compared to the same quarter last year. Analysts anticipate that The Lovesac Company will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Craig Hallum raised their price objective on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Roth Mkm raised their price objective on shares of Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Canaccord Genuity Group increased their target price on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, DA Davidson cut their target price on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $38.33.

Hedge Funds Weigh In On Lovesac

A number of large investors have recently modified their holdings of the company. BCGM Wealth Management LLC boosted its position in shares of Lovesac by 0.8% in the third quarter. BCGM Wealth Management LLC now owns 134,364 shares of the company’s stock valued at $3,850,000 after acquiring an additional 1,023 shares during the period. Meeder Asset Management Inc. purchased a new stake in Lovesac in the second quarter valued at approximately $43,000. Empowered Funds LLC raised its stake in Lovesac by 5.1% in the third quarter. Empowered Funds LLC now owns 49,284 shares of the company’s stock valued at $1,412,000 after purchasing an additional 2,412 shares in the last quarter. Rhumbline Advisers raised its stake in Lovesac by 12.4% in the second quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock valued at $501,000 after purchasing an additional 2,449 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Lovesac by 1.2% in the third quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock valued at $9,634,000 after purchasing an additional 3,979 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors.

Lovesac Company Profile

The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and other products comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans. The company markets its products primarily through www.lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 41 states in the United States; and in store pop-up- shops and shop-in-shops, and barter inventory transactions.