Lovesac Target of Unusually High Options Trading (NASDAQ:LOVE)

The Lovesac Company (NASDAQ:LOVE) saw unusually large options trading activity on Monday. Stock investors bought 6,148 call options on the stock. This is an increase of approximately 871% compared to the average daily volume of 633 call options.

Lovesac Stock Up 1.5 %

Shares of LOVE traded up $0.27 during midday trading on Monday, reaching $18.61. The company had a trading volume of 179,076 shares, compared to its average volume of 361,001. The firm has a 50 day simple moving average of $18.93 and a 200-day simple moving average of $25.33. The stock has a market cap of $287.21 million, a PE ratio of 54.74, a price-to-earnings-growth ratio of 0.65 and a beta of 3.08. Lovesac has a 1-year low of $12.12 and a 1-year high of $39.49.

Lovesac (NASDAQ:LOVE) last posted its earnings results on Thursday, April 10th. The company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.33. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The company had revenue of $241.50 million for the quarter, compared to analyst estimates of $230.33 million. During the same period in the previous year, the business posted $1.87 EPS. Lovesac’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Lovesac will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LOVE. Canaccord Genuity Group lowered their price target on Lovesac from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday. Oppenheimer restated an “outperform” rating and issued a $35.00 price objective on shares of Lovesac in a report on Friday. DA Davidson dropped their target price on shares of Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a report on Friday. Finally, Roth Mkm raised their price target on shares of Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $31.67.

Insider Buying and Selling

In related news, Director Albert Jack Krause sold 30,000 shares of Lovesac stock in a transaction dated 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 directly owns 147,849 shares in the company, valued at approximately $3,892,864.17. The trade was a 16.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.33% of the stock is owned by insiders.

Institutional Trading of Lovesac

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Heck Capital Advisors LLC acquired a new position in Lovesac in the fourth quarter valued at about $26,000. Cubist Systematic Strategies LLC acquired a new position in shares of Lovesac in the 4th quarter worth approximately $49,000. AlphaQuest LLC purchased a new position in shares of Lovesac during the 4th quarter worth approximately $70,000. MetLife Investment Management LLC increased its holdings in Lovesac by 18.3% in the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock valued at $218,000 after purchasing an additional 1,425 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Lovesac by 12,234.3% in the first quarter. GAMMA Investing LLC now owns 12,581 shares of the company’s stock valued at $229,000 after purchasing an additional 12,479 shares during the period. 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.