Lovesac (NASDAQ:LOVE) Earns “Buy” Rating from Roth Mkm

Lovesac (NASDAQ:LOVE)‘s stock had its “buy” rating reaffirmed by equities researchers at Roth Mkm in a note issued to investors on Wednesday, Benzinga reports. They presently have a $30.00 target price on the stock. Roth Mkm’s target price points to a potential upside of 34.53% from the company’s current price.

Several other research firms also recently issued reports on LOVE. Oppenheimer reduced their price objective on Lovesac from $60.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. DA Davidson upped their target price on shares of Lovesac from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Maxim Group upped their target price on shares of Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $36.00 target price on shares of Lovesac in a research report on Friday, June 14th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lovesac presently has a consensus rating of “Buy” and a consensus price target of $34.20.

Lovesac Price Performance

Shares of LOVE traded up $0.31 on Wednesday, hitting $22.30. The company’s stock had a trading volume of 19,629 shares, compared to its average volume of 302,272. The company has a 50 day moving average price of $24.89 and a 200 day moving average price of $23.91. Lovesac has a fifty-two week low of $14.18 and a fifty-two week high of $29.81. The company has a market capitalization of $346.77 million, a PE ratio of 26.32, a PEG ratio of 0.59 and a beta of 2.94.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings data on Thursday, June 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.16. Lovesac had a return on equity of 7.55% and a net margin of 2.17%. The firm had revenue of $132.64 million for the quarter, compared to the consensus estimate of $128.20 million. On average, equities analysts forecast that Lovesac will post 1.09 EPS for the current year.

Insider Buying and Selling at Lovesac

In other news, Director Andrew R. Heyer acquired 3,856 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was acquired at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the transaction, the director now directly owns 3,856 shares in the company, valued at $72,338.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Andrew R. Heyer acquired 3,856 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was acquired at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the transaction, the director now directly owns 3,856 shares in the company, valued at $72,338.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Keith R. Siegner acquired 4,800 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was purchased at an average price of $20.80 per share, with a total value of $99,840.00. Following the transaction, the chief financial officer now owns 4,800 shares in the company, valued at $99,840. The disclosure for this purchase can be found here. Corporate insiders own 12.33% of the company’s stock.

Hedge Funds Weigh In On Lovesac

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CastleKnight Management LP boosted its stake in Lovesac by 251.3% in the 4th quarter. CastleKnight Management LP now owns 40,400 shares of the company’s stock worth $1,032,000 after purchasing an additional 28,900 shares during the period. Halter Ferguson Financial Inc. acquired a new position in shares of Lovesac during the 4th quarter worth about $5,160,000. BNP Paribas Financial Markets boosted its stake in shares of Lovesac by 146.8% during the 4th quarter. BNP Paribas Financial Markets now owns 64,767 shares of the company’s stock worth $1,655,000 after buying an additional 38,520 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Lovesac during the 3rd quarter worth about $1,189,000. Finally, Graham Capital Management L.P. acquired a new position in shares of Lovesac during the 3rd quarter worth about $255,000. 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.