Albert Jack Krause Sells 30,000 Shares of The Lovesac Company (NASDAQ:LOVE) Stock

The Lovesac Company (NASDAQ:LOVE) Director Albert Jack Krause sold 30,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $26.33, for a total value of $789,900.00. Following the completion of the sale, the director now directly owns 147,849 shares of the company’s stock, valued at $3,892,864.17. The trade was a 16.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lovesac Stock Down 1.5 %

Shares of NASDAQ LOVE traded down $0.40 during trading on Wednesday, reaching $25.86. The company had a trading volume of 445,869 shares, compared to its average volume of 392,128. The stock has a market cap of $399.02 million, a PE ratio of 76.06, a P/E/G ratio of 1.92 and a beta of 3.04. The business’s 50-day moving average is $29.65 and its 200 day moving average is $27.45. The Lovesac Company has a 12-month low of $18.21 and a 12-month high of $39.49.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.02. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The business had revenue of $149.90 million for the quarter, compared to analysts’ expectations of $155.26 million. During the same period in the prior year, the firm posted ($0.15) EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts anticipate that The Lovesac Company will post 0.39 earnings per share for the current year.

Institutional Investors Weigh In On Lovesac

A number of large investors have recently added to or reduced their stakes in LOVE. SG Americas Securities LLC bought a new stake in shares of Lovesac during the 3rd quarter valued at about $170,000. Franklin Resources Inc. bought a new position in Lovesac in the third quarter worth approximately $231,000. Valeo Financial Advisors LLC bought a new stake in shares of Lovesac during the 3rd quarter valued at $242,000. Versor Investments LP purchased a new stake in shares of Lovesac in the 3rd quarter worth $255,000. Finally, International Assets Investment Management LLC raised its holdings in Lovesac by 2,765.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,460 shares of the company’s stock worth $328,000 after purchasing an additional 11,060 shares during the period. Institutional investors own 91.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group raised their target price on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. DA Davidson cut their price objective on Lovesac from $44.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Finally, Roth Mkm increased their target price on Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Lovesac has a consensus rating of “Buy” and a consensus price target of $38.33.

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.