Charles Schwab Investment Management Inc. Sells 1,182 Shares of The Lovesac Company (NASDAQ:LOVE)

Charles Schwab Investment Management Inc. lessened its holdings in The Lovesac Company (NASDAQ:LOVE) by 2.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 40,281 shares of the company’s stock after selling 1,182 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Lovesac were worth $1,154,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Meeder Asset Management Inc. bought a new stake in Lovesac during the 2nd quarter valued at approximately $43,000. SG Americas Securities LLC bought a new stake in shares of Lovesac during the third quarter valued at approximately $170,000. Valeo Financial Advisors LLC bought a new position in shares of Lovesac during the third quarter worth $242,000. Quest Partners LLC grew its stake in Lovesac by 797.6% during the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after acquiring an additional 7,617 shares in the last quarter. Finally, Versor Investments LP bought a new stake in Lovesac in the 3rd quarter valued at $255,000. 91.32% of the stock is owned by institutional investors.

Lovesac Stock Performance

NASDAQ LOVE opened at $26.69 on Wednesday. The company has a market cap of $411.91 million, a P/E ratio of 78.50, a P/E/G ratio of 0.99 and a beta of 2.97. The business’s 50 day moving average price is $31.61 and its 200-day moving average price is $27.28. The Lovesac Company has a fifty-two week low of $18.21 and a fifty-two week high of $39.49.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.02. The firm had revenue of $149.90 million during the quarter, compared to analyst estimates of $155.26 million. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.15) EPS. As a group, equities analysts predict that The Lovesac Company will post 1.09 EPS for the current year.

Analysts Set New Price Targets

LOVE has been the subject of a number of research analyst reports. Roth Mkm raised their price objective on Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Craig Hallum raised 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 upped their price objective on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a 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 report on Friday, December 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $38.33.

Insider Buying and Selling at Lovesac

In related news, Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $4,663,200.78. This trade represents a 5.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 12.33% of the company’s stock.

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.