BCGM Wealth Management LLC Grows Stock Position in The Lovesac Company (NASDAQ:LOVE)

BCGM Wealth Management LLC raised its position in The Lovesac Company (NASDAQ:LOVE) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,979 shares of the company’s stock after buying an additional 1,615 shares during the quarter. Lovesac comprises about 1.0% of BCGM Wealth Management LLC’s holdings, making the stock its 29th largest position. BCGM Wealth Management LLC owned about 0.88% of Lovesac worth $3,217,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Lovesac by 2,765.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,460 shares of the company’s stock valued at $328,000 after acquiring an additional 11,060 shares during the period. Semanteon Capital Management LP bought a new stake in shares of Lovesac in the third quarter valued at approximately $380,000. Roubaix Capital LLC purchased a new stake in shares of Lovesac during the 3rd quarter valued at approximately $4,520,000. Versor Investments LP bought a new position in Lovesac in the 3rd quarter worth approximately $255,000. Finally, Empowered Funds LLC grew its stake in Lovesac by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 49,284 shares of the company’s stock valued at $1,412,000 after buying an additional 2,412 shares in the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. DA Davidson cut their price target on Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a report on Friday, December 13th. Roth Mkm raised their target price on Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Canaccord Genuity Group upped their price target on Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Lovesac currently has an average rating of “Buy” and an average price target of $38.33.

Insider Activity

In other news, Director Walter Field Mclallen acquired 4,000 shares of Lovesac stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $24.68 per share, for a total transaction of $98,720.00. Following the transaction, the director now owns 23,540 shares of the company’s stock, valued at $580,967.20. This trade represents a 20.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Albert Jack Krause sold 30,000 shares of the business’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 completion of 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 disclosure for this sale can be found here. Corporate insiders own 12.33% of the company’s stock.

Lovesac Stock Down 5.0 %

Lovesac stock opened at $21.65 on Monday. The stock has a market cap of $334.06 million, a price-to-earnings ratio of 63.68, a PEG ratio of 0.65 and a beta of 3.02. The business has a 50-day simple moving average of $24.67 and a 200 day simple moving average of $27.05. The Lovesac Company has a 52 week low of $18.21 and a 52 week high of $39.49.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.02. The company had revenue of $149.90 million during the quarter, compared to analyst estimates of $155.26 million. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. Lovesac’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. On average, research analysts anticipate that The Lovesac Company will post 0.39 earnings per share for the current year.

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.