LSV Asset Management acquired a new position in shares of Lovesac Company (NASDAQ:LOVE – Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 43,700 shares of the company’s stock valued at approximately $988,000. LSV Asset Management owned 0.28% of Lovesac, according to its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in LOVE. Byrne Asset Management LLC increased its position in Lovesac by 515.4% in the 1st quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock worth $72,000 after purchasing an additional 2,680 shares during the same period. SG Americas Securities LLC acquired a new position in Lovesac in the 4th quarter valued at about $116,000. Graham Capital Management LP acquired a new position in Lovesac in the 3rd quarter valued at about $255,000. International Assets Investment Management LLC acquired a new position in Lovesac in the 4th quarter valued at about $261,000. Finally, Great Valley Advisor Group Inc. acquired a new position in Lovesac in the 4th quarter valued at about $281,000. Hedge funds and other institutional investors own 91.32% of the company’s shares.
Analysts set new price targets
Several equities analysts have commented on LOVE shares. Roth Mkm reiterated a “buy” rating and issued a $30.00 price target on shares of Lovesac in a research report on Wednesday, July 3rd. Maxim Group increased their price target on shares of Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Canaccord Genuity Group reiterated a “buy” rating and issued a $36.00 price target on shares of Lovesac in a report on Friday, June 14th. Oppenheimer reduced their price target on shares of Lovesac from $60.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, DA Davidson raised their price target on shares of Lovesac from $24.00 to $32.00 and gave the company a “buy” rating in a report on Friday, June 14. Five analysts have rated the stock with a buy rating. Based on data from MarketBeat.com, Lovesac has a consensus rating of “Buy” and a consensus price target of $34.20.
Get our latest stock report on Lovesac
Insider buying and selling at Lovesac
In other Lovesac news, Director Andrew R. Heyer purchased 3,856 shares of the company’s stock in a transaction that occurred on Tuesday, April 16. The shares were purchased at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the completion of the purchase, the director now directly owns 3,856 shares of the company’s stock, valued at approximately $72,338.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, available at this link. In other news, Director Andrew R. Heyer purchased 3,856 shares of the company’s stock in a transaction that occurred on Tuesday, April 16. The shares were purchased at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the completion of the purchase, the director now directly owns 3,856 shares of the company’s stock, valued at approximately $72,338.56. The acquisition was disclosed in a filing with the SEC, which is available through the SEC’s website. Also, CEO Shawn David Nelson sold 18,988 shares of Lovesac stock in a transaction dated Thursday, June 20. The shares were sold at an average price of $23.33, for a total transaction of $442,990.04. Following the completion of the sale, the CEO now directly owns 165,855 shares of the company’s stock, valued at approximately $3,869,397.15. The disclosure regarding this sale can be found here. 12.33% of the shares are currently owned by company insiders.
Price development of Lovesac shares
NASDAQ LOVE opened at $26.98 on Monday. The company has a market cap of $419.54 million, a P/E ratio of 31.74, a PEG ratio of 0.71 and a beta of 2.94. Lovesac company has a one year low of $14.18 and a one year high of $29.81. The company’s 50-day moving average is $25.10 and its 200-day moving average is $23.75.
Lovesac (NASDAQ:LOVE – Free Report) last released its quarterly earnings results on Thursday, June 13. The company reported earnings per share (EPS) of -$0.83 for the quarter, beating analysts’ consensus estimates of -$0.99 by $0.16. The company had revenue of $132.64 million during the quarter, compared to analyst estimates of $128.20 million. Lovesac had a net margin of 2.17% and a return on equity of 7.55%. Research analysts forecast that The Lovesac Company will report earnings per share of $1.09 for the current year.
About Lovesac
(Free report)
The Lovesac Company designs, manufactures and sells furniture. It offers custom features such as seats and sides, sacs, including foam bean bags, and other products such as cup holders, footmuff blankets, decorative pillows, seating tables and ottomans. The company sells its products primarily through its website, www.lovesac.com, as well as showrooms in premier shopping centers, lifestyle centers, mobile concierges, kiosks and street locations in 41 states across the United States, as well as through pop-up shops and shop-in-shops in stores and swap shops.
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