The Lovesac Company (NASDAQ:LOVE) Receives $38.33 Consensus PT from Brokerages

Shares of The Lovesac Company (NASDAQ:LOVE) have been assigned a consensus rating of “Buy” from the six analysts that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $38.33.

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group upped their price objective on shares of Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. DA Davidson cut their price objective on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, Roth Mkm upped their price objective on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th.

Lovesac Price Performance

LOVE stock opened at $25.86 on Thursday. Lovesac has a one year low of $18.21 and a one year high of $39.49. 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 firm has a 50 day simple moving average of $29.56 and a two-hundred day simple moving average of $27.44.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, December 12th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The business had revenue of $149.90 million during the quarter, compared to analysts’ expectations of $155.26 million. During the same quarter in the previous year, the company earned ($0.15) EPS. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, research analysts expect that Lovesac will post 0.39 EPS for the current fiscal year.

Insider Activity at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 30,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $26.33, for a total value of $789,900.00. Following the completion of the transaction, the director now directly owns 147,849 shares in the company, valued at approximately $3,892,864.17. This represents 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 the SEC website. Also, Director Walter Field Mclallen acquired 4,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was bought at an average price of $24.68 per share, with a total value of $98,720.00. Following the completion of the acquisition, the director now directly owns 23,540 shares in the company, valued at approximately $580,967.20. This represents a 20.47 % increase in their position. The disclosure for this purchase can be found here. 12.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LOVE. Senvest Management LLC raised its holdings in Lovesac by 47.3% in the 3rd quarter. Senvest Management LLC now owns 943,022 shares of the company’s stock worth $27,018,000 after purchasing an additional 302,643 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Lovesac in the 2nd quarter worth about $4,328,000. Roubaix Capital LLC purchased a new stake in shares of Lovesac in the 3rd quarter worth about $4,520,000. American Century Companies Inc. grew its position in shares of 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 buying an additional 128,285 shares during the period. Finally, Anson Funds Management LP grew its position in shares of Lovesac by 13.9% in the 3rd quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock worth $23,332,000 after buying an additional 99,651 shares during the period. 91.32% of the stock is currently owned by institutional investors.

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.