The Lovesac Company (NASDAQ:LOVE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of The Lovesac Company (NASDAQ:LOVE) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $22.6667.

A number of equities analysts recently issued reports on the company. Roth Mkm restated a “buy” rating on shares of Lovesac in a research note on Friday, March 27th. Wall Street Zen raised shares of Lovesac from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Lovesac in a research note on Friday, March 27th.

Lovesac Trading Down 3.8%

Shares of LOVE stock opened at $15.73 on Friday. The business’s fifty day simple moving average is $15.69 and its 200-day simple moving average is $14.23. Lovesac has a 12-month low of $10.33 and a 12-month high of $21.15. The company has a market cap of $232.49 million, a PE ratio of 54.24, a PEG ratio of 0.76 and a beta of 2.02.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results on Thursday, March 26th. The company reported $2.19 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.19. The business had revenue of $248.05 million during the quarter, compared to the consensus estimate of $242.77 million. Lovesac had a return on equity of 2.02% and a net margin of 0.58%.The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $2.13 earnings per share. On average, equities analysts forecast that Lovesac will post 0.59 earnings per share for the current year.

Insider Activity

In other Lovesac news, CEO Shawn David Nelson bought 1,477 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The stock was bought at an average cost of $16.95 per share, for a total transaction of $25,035.15. Following the completion of the transaction, the chief executive officer directly owned 202,681 shares of the company’s stock, valued at approximately $3,435,442.95. This trade represents a 0.73% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lovesac

A number of institutional investors have recently modified their holdings of LOVE. Kanen Wealth Management LLC purchased a new stake in shares of Lovesac in the first quarter worth about $8,064,000. Invenomic Capital Management LP purchased a new position in Lovesac during the fourth quarter valued at approximately $5,350,000. Senvest Management LLC raised its position in Lovesac by 36.7% during the first quarter. Senvest Management LLC now owns 1,025,393 shares of the company’s stock valued at $15,145,000 after acquiring an additional 275,252 shares in the last quarter. Millennium Management LLC lifted its holdings in Lovesac by 378.9% in the fourth quarter. Millennium Management LLC now owns 327,477 shares of the company’s stock valued at $4,830,000 after acquiring an additional 259,097 shares during the period. Finally, Bastion Asset Management Inc. lifted its holdings in Lovesac by 193.6% in the first quarter. Bastion Asset Management Inc. now owns 356,097 shares of the company’s stock valued at $5,290,000 after acquiring an additional 234,812 shares during the period. Hedge funds and other institutional investors own 91.32% of the company’s stock.

About Lovesac

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.