The Lovesac Company (NASDAQ:LOVE) Given Average Rating of “Buy” by Analysts

The Lovesac Company (NASDAQ:LOVE) has been given an average recommendation of “Buy” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have covered the stock in the last year is $38.33.

Several research firms have issued reports on LOVE. Craig Hallum boosted their price target on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 13th. Canaccord Genuity Group boosted their price objective on Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Roth Mkm raised their target price on shares of Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, DA Davidson lowered their price target on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, December 13th.

Insider Buying and Selling

In related news, Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total transaction of $262,200.00. Following the completion of the transaction, the director now directly owns 177,849 shares of the company’s stock, valued at approximately $4,663,200.78. This trade represents a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 12.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Senvest Management LLC lifted its position in shares of Lovesac by 47.3% in the third quarter. Senvest Management LLC now owns 943,022 shares of the company’s stock worth $27,018,000 after buying an additional 302,643 shares in the last quarter. Marshall Wace LLP bought a new stake in Lovesac in the 2nd quarter worth approximately $4,328,000. Roubaix Capital LLC purchased a new stake in shares of Lovesac during the 3rd quarter worth approximately $4,520,000. American Century Companies Inc. boosted its position in shares of Lovesac by 78.6% during the 2nd quarter. American Century Companies Inc. now owns 291,579 shares of the company’s stock valued at $6,584,000 after acquiring an additional 128,285 shares during the last quarter. Finally, Anson Funds Management LP grew its holdings in shares of Lovesac by 13.9% in the third quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock valued at $23,332,000 after purchasing an additional 99,651 shares in the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Lovesac Stock Up 2.2 %

Shares of NASDAQ:LOVE opened at $23.93 on Friday. The stock has a market capitalization of $369.31 million, a PE ratio of 46.92, a price-to-earnings-growth ratio of 0.99 and a beta of 2.97. The firm’s 50 day moving average price is $31.56 and its 200-day moving average price is $27.20. Lovesac has a twelve month low of $18.21 and a twelve month high of $39.49.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.02. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. The business had revenue of $149.90 million for the quarter, compared to analysts’ expectations of $155.26 million. During the same quarter last year, the company posted ($0.15) EPS. The company’s revenue was down 2.7% compared to the same quarter last year. Analysts expect that Lovesac will post 1.09 earnings per share for the current fiscal year.

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.