The Lovesac Company (NASDAQ:LOVE) Stake Boosted by American Century Companies Inc.

American Century Companies Inc. lifted its stake in The Lovesac Company (NASDAQ:LOVE) by 15.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 436,790 shares of the company’s stock after acquiring an additional 56,989 shares during the quarter. American Century Companies Inc.’s holdings in Lovesac were worth $10,334,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Anson Funds Management LP increased its position in Lovesac by 13.9% in the 3rd quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock worth $23,332,000 after purchasing an additional 99,651 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Lovesac by 9.3% in the 4th quarter. Bank of New York Mellon Corp now owns 489,613 shares of the company’s stock valued at $11,584,000 after buying an additional 41,751 shares in the last quarter. Geode Capital Management LLC increased its holdings in Lovesac by 1.2% in 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 during the last quarter. State Street Corp raised its position in Lovesac by 1.7% during the third quarter. State Street Corp now owns 299,081 shares of the company’s stock valued at $8,569,000 after acquiring an additional 5,124 shares in the last quarter. Finally, MML Investors Services LLC lifted its stake in Lovesac by 46.9% in the third quarter. MML Investors Services LLC now owns 138,893 shares of the company’s stock valued at $3,979,000 after acquiring an additional 44,358 shares during the last quarter. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on LOVE. Roth Mkm increased their price target on shares of Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. DA Davidson reissued a “buy” rating and set a $35.00 target price on shares of Lovesac in a research report on Tuesday, March 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Lovesac has a consensus rating of “Buy” and a consensus target price of $38.33.

Insiders Place Their Bets

In other Lovesac news, 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 value 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. This trade represents a 16.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 12.33% of the company’s stock.

Lovesac Trading Up 3.4 %

Shares of Lovesac stock opened at $18.26 on Thursday. The Lovesac Company has a 1-year low of $15.22 and a 1-year high of $39.49. The firm has a fifty day simple moving average of $20.78 and a 200-day simple moving average of $26.07. The stock has a market capitalization of $281.81 million, a price-to-earnings ratio of 53.71, a PEG ratio of 0.65 and a beta of 3.05.

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.