Charles Schwab Investment Management Inc. Boosts Stake in The Lovesac Company (NASDAQ:LOVE)

Charles Schwab Investment Management Inc. raised its holdings in shares of The Lovesac Company (NASDAQ:LOVE) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 41,524 shares of the company’s stock after buying an additional 1,243 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Lovesac were worth $982,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LOVE. Heck Capital Advisors LLC purchased a new stake in Lovesac in the fourth quarter valued at $26,000. BCGM Wealth Management LLC lifted its holdings in Lovesac by 1.2% in the 4th quarter. BCGM Wealth Management LLC now owns 135,979 shares of the company’s stock valued at $3,217,000 after purchasing an additional 1,615 shares in the last quarter. Empowered Funds LLC grew its stake in Lovesac by 5.0% during the 4th quarter. Empowered Funds LLC now owns 51,725 shares of the company’s stock valued at $1,224,000 after acquiring an additional 2,441 shares in the last quarter. Geode Capital Management LLC lifted its position in Lovesac by 1.2% during the third quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock worth $9,634,000 after buying an additional 3,979 shares in the last quarter. Finally, State Street Corp increased its position in Lovesac by 1.7% during the third quarter. State Street Corp now owns 299,081 shares of the company’s stock worth $8,569,000 after purchasing an additional 5,124 shares during the last quarter. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 sale, the director now owns 147,849 shares of the company’s stock, valued at $3,892,864.17. The trade was a 16.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.33% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Roth Mkm boosted their price objective on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. DA Davidson reiterated a “buy” rating and issued a $35.00 price objective on shares of Lovesac in a report on Tuesday, March 25th. Finally, Canaccord Genuity Group boosted their target price on Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $38.33.

Lovesac Price Performance

NASDAQ LOVE opened at $18.65 on Monday. The Lovesac Company has a 12 month low of $15.22 and a 12 month high of $39.49. The company has a 50-day moving average of $21.26 and a 200-day moving average of $26.24. The company has a market cap of $287.83 million, a P/E ratio of 54.85, a P/E/G ratio of 0.65 and a beta of 3.05.

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.