The Lovesac Company (NASDAQ:LOVE) Receives Consensus Rating of “Buy” from Brokerages

The Lovesac Company (NASDAQ:LOVE) has been given an average recommendation of “Buy” by the six ratings firms that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $35.17.

Several research analysts recently commented on LOVE shares. Roth Mkm raised their price target on shares of Lovesac from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $36.00 price target on shares of Lovesac in a research note on Friday, September 13th. DA Davidson reissued a “buy” rating and issued a $32.00 price objective on shares of Lovesac in a research note on Thursday, October 3rd. Finally, Craig Hallum raised their price objective on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 13th.

Insider Activity

In related news, Director Albert Jack Krause sold 10,000 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total transaction of $262,200.00. Following the completion of the sale, the director now directly owns 177,849 shares in the company, valued at $4,663,200.78. This represents a 5.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 12.33% of the company’s stock.

Hedge Funds Weigh In On Lovesac

Large investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Lovesac by 312.7% in the 3rd quarter. Barclays PLC now owns 20,312 shares of the company’s stock valued at $583,000 after buying an additional 15,390 shares in the last quarter. Soltis Investment Advisors LLC boosted its stake in Lovesac by 8.8% in the third quarter. Soltis Investment Advisors LLC now owns 86,170 shares of the company’s stock valued at $2,469,000 after acquiring an additional 6,988 shares in the last quarter. Geode Capital Management LLC grew its holdings in Lovesac by 1.2% in the third quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock worth $9,634,000 after purchasing an additional 3,979 shares during the last quarter. MML Investors Services LLC increased its position in shares of Lovesac by 46.9% during the third quarter. MML Investors Services LLC now owns 138,893 shares of the company’s stock worth $3,979,000 after purchasing an additional 44,358 shares in the last quarter. Finally, Anson Funds Management LP lifted its holdings in shares of Lovesac by 13.9% during the 3rd quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock valued at $23,332,000 after purchasing an additional 99,651 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors.

Lovesac Price Performance

Lovesac stock opened at $37.10 on Wednesday. The firm has a market capitalization of $577.28 million, a P/E ratio of 72.75, a price-to-earnings-growth ratio of 0.91 and a beta of 2.91. Lovesac has a 1-year low of $18.21 and a 1-year high of $38.94. The company’s 50-day moving average is $29.06 and its 200 day moving average is $26.40.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results on Thursday, September 12th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.08. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The firm had revenue of $156.59 million for the quarter, compared to the consensus estimate of $154.01 million. Research analysts anticipate that Lovesac will post 1.09 earnings per share for the current fiscal year.

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.