Empowered Funds LLC Boosts Holdings in The Lovesac Company (NASDAQ:LOVE)

Empowered Funds LLC increased its holdings in shares of The Lovesac Company (NASDAQ:LOVE) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,284 shares of the company’s stock after buying an additional 2,412 shares during the period. Empowered Funds LLC owned about 0.32% of Lovesac worth $1,412,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in shares of Lovesac in the first quarter valued at $39,000. Meeder Asset Management Inc. acquired a new position in shares of Lovesac during the second quarter worth about $43,000. SG Americas Securities LLC purchased a new stake in shares of Lovesac during the third quarter worth approximately $170,000. Valeo Financial Advisors LLC acquired a new stake in Lovesac in the third quarter valued at approximately $242,000. Finally, Quest Partners LLC lifted its stake in Lovesac by 797.6% in the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock worth $194,000 after acquiring an additional 7,617 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Canaccord Genuity Group restated a “buy” rating and issued a $36.00 price target on shares of Lovesac in a research note on Friday, September 13th. Craig Hallum upped 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. Roth Mkm raised their price objective on shares of Lovesac from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, DA Davidson restated a “buy” rating and issued a $32.00 target price on shares of Lovesac in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $35.17.

Lovesac Price Performance

LOVE stock opened at $35.40 on Friday. The Lovesac Company has a 12 month low of $18.21 and a 12 month high of $35.58. The company’s 50 day simple moving average is $28.45 and its 200-day simple moving average is $26.14. The firm has a market capitalization of $550.82 million, a PE ratio of 69.41, a P/E/G ratio of 0.87 and a beta of 2.91.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, September 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.08. The company had revenue of $156.59 million for the quarter, compared to analyst estimates of $154.01 million. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. As a group, sell-side analysts anticipate that The Lovesac Company will post 1.09 earnings per share for the current year.

Insiders Place Their Bets

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of Lovesac stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total value of $262,200.00. Following the transaction, the director now owns 177,849 shares in the company, valued at $4,663,200.78. This trade represents a 5.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.33% of the stock is owned by corporate insiders.

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.