Lovesac’s (LOVE) “Outperform” Rating Reiterated at Oppenheimer

Lovesac (NASDAQ:LOVE)‘s stock had its “outperform” rating reaffirmed by stock analysts at Oppenheimer in a research note issued to investors on Friday,Benzinga reports. They currently have a $35.00 price target on the stock. Oppenheimer’s price target indicates a potential upside of 90.84% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Roth Mkm increased their target price on Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday. DA Davidson lowered their price target on Lovesac from $35.00 to $24.00 and set a “buy” rating on the stock in a report on Friday. Finally, Canaccord Genuity Group reduced their price objective on shares of Lovesac from $45.00 to $30.00 and set a “buy” rating for the company in a report on Friday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $31.67.

Lovesac Stock Down 0.8 %

Shares of NASDAQ:LOVE opened at $18.34 on Friday. The company has a market cap of $283.04 million, a P/E ratio of 53.94, a P/E/G ratio of 0.65 and a beta of 3.08. Lovesac has a 52 week low of $12.12 and a 52 week high of $39.49. The business has a fifty day simple moving average of $18.93 and a 200-day simple moving average of $25.35.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings data on Thursday, April 10th. The company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.33. The company had revenue of $241.50 million during the quarter, compared to the consensus estimate of $230.33 million. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. Lovesac’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.87 earnings per share. Sell-side analysts expect that Lovesac will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Albert Jack Krause sold 30,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 147,849 shares in the company, valued at $3,892,864.17. This represents a 16.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Senvest Management LLC boosted its position in Lovesac by 17.4% during the 4th quarter. Senvest Management LLC now owns 1,106,767 shares of the company’s stock worth $26,186,000 after acquiring an additional 163,745 shares during the period. Hood River Capital Management LLC lifted its position in Lovesac by 6.4% in the 4th quarter. Hood River Capital Management LLC now owns 986,947 shares of the company’s stock worth $23,351,000 after buying an additional 59,231 shares in the last quarter. Anson Funds Management LP raised its holdings in shares of Lovesac by 12.9% during the fourth quarter. Anson Funds Management LP now owns 919,229 shares of the company’s stock worth $21,749,000 after acquiring an additional 104,866 shares in the last quarter. AWM Investment Company Inc. boosted its position in Lovesac by 33.2% during the fourth quarter. AWM Investment Company Inc. now owns 681,741 shares of the company’s stock valued at $16,130,000 after purchasing an additional 170,045 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Lovesac by 9.3% in the fourth quarter. Bank of New York Mellon Corp now owns 489,613 shares of the company’s stock valued at $11,584,000 after purchasing an additional 41,751 shares in the last quarter. 91.32% of the stock is owned by institutional investors and hedge funds.

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.