M&T Bank Corp Purchases Shares of 13,567 The Lovesac Company (NASDAQ:LOVE)

M&T Bank Corp purchased a new stake in shares of The Lovesac Company (NASDAQ:LOVE) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 13,567 shares of the company’s stock, valued at approximately $321,000.

A number of other institutional investors have also made changes to their positions in the business. Versor Investments LP acquired a new position in shares of Lovesac during the 3rd quarter worth about $255,000. Empowered Funds LLC boosted its position in shares of Lovesac by 5.1% in the third quarter. Empowered Funds LLC now owns 49,284 shares of the company’s stock valued at $1,412,000 after acquiring an additional 2,412 shares during the period. BCGM Wealth Management LLC boosted its position in shares of Lovesac by 0.8% in the third quarter. BCGM Wealth Management LLC now owns 134,364 shares of the company’s stock valued at $3,850,000 after acquiring an additional 1,023 shares during the period. Senvest Management LLC boosted 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 valued at $27,018,000 after acquiring an additional 302,643 shares during the period. Finally, Millrace Asset Group Inc. grew its stake in shares of Lovesac by 63.0% in the third quarter. Millrace Asset Group Inc. now owns 68,503 shares of the company’s stock worth $1,963,000 after acquiring an additional 26,481 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lovesac

In other news, Director Walter Field Mclallen purchased 4,000 shares of Lovesac stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $24.68 per share, for a total transaction of $98,720.00. Following the completion of the transaction, the director now directly owns 23,540 shares in the company, valued at approximately $580,967.20. This represents a 20.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Albert Jack Krause sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $26.33, for a total transaction of $789,900.00. Following the sale, the director now directly owns 147,849 shares of the company’s stock, valued at approximately $3,892,864.17. The trade was a 16.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Roth Mkm upped their target price on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. DA Davidson reduced their target price on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, Canaccord Genuity Group boosted 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $38.33.

Lovesac Stock Performance

Shares of Lovesac stock opened at $15.50 on Friday. The Lovesac Company has a twelve month low of $15.22 and a twelve month high of $39.49. The firm has a market cap of $239.21 million, a P/E ratio of 45.59, a price-to-earnings-growth ratio of 0.65 and a beta of 3.05. The firm’s 50-day simple moving average is $23.12 and its 200-day simple moving average is $26.58.

Lovesac (NASDAQ:LOVE) last issued its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (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 3.51% and a net margin of 1.04%. Lovesac’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.15) EPS. On average, equities analysts forecast that The Lovesac Company will post 0.39 earnings per share for the current fiscal year.

Lovesac 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.