Lovesac’s (LOVE) “Buy” Rating Reiterated at DA Davidson

Lovesac (NASDAQ:LOVE)‘s stock had its “buy” rating reissued by stock analysts at DA Davidson in a report issued on Tuesday,Benzinga reports. They presently have a $35.00 price target on the stock. DA Davidson’s price objective indicates a potential upside of 86.37% from the stock’s current price.

Several other equities research analysts have also recently commented on LOVE. Roth Mkm lifted their price target on shares of Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group lifted their target price on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Lovesac presently has a consensus rating of “Buy” and an average price target of $38.33.

Lovesac Stock Up 2.3 %

Shares of LOVE opened at $18.78 on Tuesday. The stock’s fifty day simple moving average is $21.57 and its 200-day simple moving average is $26.23. The firm has a market capitalization of $289.83 million, a PE ratio of 55.24, a price-to-earnings-growth ratio of 0.65 and a beta of 3.05. Lovesac has a 12-month low of $15.22 and a 12-month high of $39.49.

Insider Activity

In other news, Director Albert Jack Krause sold 30,000 shares of Lovesac stock in a transaction on Friday, January 17th. The shares were sold at an average price of $26.33, for a total transaction of $789,900.00. Following the transaction, the director now directly owns 147,849 shares of the company’s stock, valued at $3,892,864.17. This trade represents a 16.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.33% of the stock is currently owned by company insiders.

Institutional Trading of Lovesac

Several hedge funds have recently added to or reduced their stakes in the business. Millrace Asset Group Inc. increased its holdings 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 in the last quarter. State Street Corp grew its position in shares of Lovesac by 1.7% in the 3rd quarter. State Street Corp now owns 299,081 shares of the company’s stock valued at $8,569,000 after purchasing an additional 5,124 shares during the period. Jane Street Group LLC grew its position in shares of Lovesac by 74.4% in the 3rd quarter. Jane Street Group LLC now owns 80,776 shares of the company’s stock valued at $2,314,000 after purchasing an additional 34,451 shares during the period. XTX Topco Ltd bought a new stake in Lovesac during the 3rd quarter worth approximately $381,000. Finally, Anson Funds Management LP raised its holdings in Lovesac by 13.9% during the 3rd 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 period. Institutional investors and hedge funds own 91.32% 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.