The Lovesac Company (NASDAQ:LOVE) Receives $38.33 Consensus Price Target from Brokerages

The Lovesac Company (NASDAQ:LOVE) has earned a consensus recommendation of “Buy” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $38.33.

Several research analysts recently issued reports on the company. DA Davidson reaffirmed a “buy” rating and set a $35.00 target price on shares of Lovesac in a research report on Tuesday, March 25th. Roth Mkm boosted their target price on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th.

Lovesac Price Performance

Lovesac stock opened at $15.41 on Tuesday. The company has a market capitalization of $237.82 million, a P/E ratio of 45.32, a P/E/G ratio of 0.65 and a beta of 3.08. The business has a 50 day moving average of $20.57 and a 200-day moving average of $26.00. Lovesac has a 1 year low of $15.22 and a 1 year high of $39.49.

Insider Activity at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 30,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were 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 directly owns 147,849 shares of the company’s stock, valued at approximately $3,892,864.17. This represents a 16.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.33% of the stock is owned by insiders.

Institutional Trading of Lovesac

A number of hedge funds have recently bought and sold shares of LOVE. Heck Capital Advisors LLC purchased a new stake in shares of Lovesac during the 4th quarter worth approximately $26,000. Charles Schwab Investment Management Inc. grew its position in Lovesac by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,524 shares of the company’s stock worth $982,000 after buying an additional 1,243 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Lovesac by 13.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,462 shares of the company’s stock worth $272,000 after purchasing an additional 1,333 shares in the last quarter. MetLife Investment Management LLC grew its stake in Lovesac by 18.3% in the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock worth $218,000 after buying an additional 1,425 shares in the last quarter. Finally, BCGM Wealth Management LLC grew its position in Lovesac by 1.2% in the fourth quarter. BCGM Wealth Management LLC now owns 135,979 shares of the company’s stock worth $3,217,000 after acquiring an additional 1,615 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors.

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.