Lovesac (NASDAQ:LOVE) Stock Rating Reaffirmed by DA Davidson

DA Davidson reaffirmed their buy rating on shares of Lovesac (NASDAQ:LOVE) in a research report released on Thursday, Benzinga reports. The firm currently has a $32.00 target price on the stock.

A number of other research analysts have also commented on LOVE. Craig Hallum upped their price objective on shares of Lovesac from $30.00 to $35.00 and gave the company a buy rating in a research report on Friday, September 13th. Canaccord Genuity Group reissued a buy rating and set a $36.00 price target on shares of Lovesac in a research note on Friday, September 13th. Maxim Group increased their price target on shares of Lovesac from $36.00 to $38.00 and gave the company a buy rating in a research note on Monday, June 17th. Finally, Roth Mkm raised their price objective on shares of Lovesac from $30.00 to $31.00 and gave the company a buy rating in a research note on Friday, September 13th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $34.50.

Lovesac Price Performance

LOVE stock opened at $25.63 on Thursday. Lovesac has a 52-week low of $14.18 and a 52-week high of $30.39. The company has a 50-day moving average of $24.68 and a two-hundred day moving average of $24.47. The stock has a market capitalization of $398.57 million, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 0.71 and a beta of 2.91.

Insider Buying and Selling at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of Lovesac stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total value of $262,200.00. Following the sale, the director now directly owns 177,849 shares in the company, valued at approximately $4,663,200.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.33% of the company’s stock.

Institutional Trading of Lovesac

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Lovesac by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 841,537 shares of the company’s stock worth $19,019,000 after purchasing an additional 11,745 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Lovesac by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock worth $17,951,000 after purchasing an additional 26,872 shares in the last quarter. Hood River Capital Management LLC raised its stake in Lovesac by 8.8% in the 2nd quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock worth $17,477,000 after purchasing an additional 62,615 shares in the last quarter. American Century Companies Inc. raised its stake in Lovesac by 78.6% in the 2nd quarter. American Century Companies Inc. now owns 291,579 shares of the company’s stock worth $6,584,000 after purchasing an additional 128,285 shares in the last quarter. Finally, Skylands Capital LLC raised its stake in Lovesac by 6.3% in the 2nd quarter. Skylands Capital LLC now owns 218,500 shares of the company’s stock worth $4,934,000 after purchasing an additional 12,960 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

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.