Brokerages Set The Lovesac Company (NASDAQ:LOVE) PT at $38.33

The Lovesac Company (NASDAQ:LOVE) has been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued a report on the stock in the last year is $38.33.

A number of research firms recently weighed in on LOVE. Canaccord Genuity Group increased their price target 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 increased their price objective on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Craig Hallum lifted their target price on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 13th. 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.

Lovesac Price Performance

Shares of LOVE stock opened at $24.88 on Friday. The stock has a market cap of $383.97 million, a P/E ratio of 73.18, a P/E/G ratio of 1.49 and a beta of 2.97. The company has a fifty day moving average price of $31.43 and a two-hundred day moving average price of $27.15. Lovesac has a one year low of $18.21 and a one year high of $39.49.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings results on Thursday, December 12th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. The business had revenue of $149.90 million during the quarter, compared to analysts’ expectations of $155.26 million. Lovesac had a return on equity of 3.46% and a net margin of 1.04%. Lovesac’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.15) earnings per share. As a group, equities research analysts anticipate that Lovesac will post 0.5 EPS for the current fiscal year.

Insider Activity at Lovesac

In related news, Director Walter Field Mclallen purchased 4,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of $24.68 per share, for a total transaction of $98,720.00. Following the completion of the purchase, the director now owns 23,540 shares in the company, valued at approximately $580,967.20. This represents a 20.47 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Albert Jack Krause sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total value of $262,200.00. Following the sale, the director now directly owns 177,849 shares in the company, valued at $4,663,200.78. This represents a 5.32 % decrease in their position. The disclosure for this sale can be found here. 12.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LOVE. Senvest Management LLC raised its holdings in shares of Lovesac by 47.3% during the 3rd 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. Anson Funds Management LP grew its stake in shares of Lovesac by 13.9% during the third quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock worth $23,332,000 after buying an additional 99,651 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Lovesac by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock worth $17,951,000 after buying an additional 26,872 shares in the last quarter. Hood River Capital Management LLC lifted its stake in shares of Lovesac by 8.8% in the 2nd quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock valued at $17,477,000 after acquiring an additional 62,615 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Lovesac by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock valued at $9,634,000 after acquiring an additional 3,979 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

About Lovesac

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.