The Lovesac Company (NASDAQ:LOVE) Short Interest Update

The Lovesac Company (NASDAQ:LOVE) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 3,870,000 shares, an increase of 25.6% from the February 28th total of 3,080,000 shares. Approximately 27.6% of the company’s stock are sold short. Based on an average daily volume of 382,000 shares, the short-interest ratio is currently 10.1 days.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Roth Mkm lifted their price target on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. DA Davidson reaffirmed a “buy” rating and issued a $35.00 target price on shares of Lovesac in a research report on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac has an average rating of “Buy” and an average target price of $38.33.

Insiders Place Their Bets

In other news, Director Albert Jack Krause sold 30,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.33% of the company’s stock.

Institutional Trading of Lovesac

Several institutional investors and hedge funds have recently bought and sold shares of the business. Heck Capital Advisors LLC acquired a new position in shares of Lovesac during the 4th quarter worth approximately $26,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Lovesac by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,524 shares of the company’s stock valued at $982,000 after purchasing an additional 1,243 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Lovesac by 13.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,462 shares of the company’s stock valued at $272,000 after purchasing an additional 1,333 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Lovesac by 18.3% during 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 during the last quarter. Finally, BCGM Wealth Management LLC boosted its holdings in shares of Lovesac by 1.2% during the 4th quarter. BCGM Wealth Management LLC now owns 135,979 shares of the company’s stock worth $3,217,000 after buying an additional 1,615 shares during the period. Institutional investors own 91.32% of the company’s stock.

Lovesac Stock Performance

Shares of LOVE stock opened at $18.26 on Thursday. Lovesac has a 52-week low of $15.22 and a 52-week high of $39.49. The stock has a market cap of $281.81 million, a price-to-earnings ratio of 53.71, a PEG ratio of 0.65 and a beta of 3.05. The firm’s 50-day moving average is $20.78 and its 200-day moving average is $26.07.

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.