Skylands Capital LLC Sells 19,150 Shares of The Lovesac Company (NASDAQ:LOVE)

Skylands Capital LLC lessened its stake in The Lovesac Company (NASDAQ:LOVE) by 9.6% in the fourth quarter, HoldingsChannel reports. The firm owned 180,650 shares of the company’s stock after selling 19,150 shares during the period. Skylands Capital LLC’s holdings in Lovesac were worth $4,274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new stake in Lovesac in the fourth quarter valued at about $26,000. Franklin Resources Inc. acquired a new position in shares of Lovesac during the third quarter worth about $231,000. Versor Investments LP acquired a new position in shares of Lovesac during the third quarter worth about $255,000. International Assets Investment Management LLC boosted its position in shares of Lovesac by 2,765.0% during the third quarter. International Assets Investment Management LLC now owns 11,460 shares of the company’s stock worth $328,000 after buying an additional 11,060 shares during the period. Finally, Semanteon Capital Management LP acquired a new position in shares of Lovesac during the third quarter worth about $380,000. Institutional investors own 91.32% of the company’s stock.

Lovesac Stock Down 5.0 %

Shares of NASDAQ:LOVE opened at $21.65 on Monday. The business has a fifty day simple moving average of $24.67 and a 200 day simple moving average of $27.05. The Lovesac Company has a 12-month low of $18.21 and a 12-month high of $39.49. The firm has a market cap of $334.06 million, a P/E ratio of 63.68, a P/E/G ratio of 0.65 and a beta of 3.02.

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

Insider Activity

In related news, Director Walter Field Mclallen acquired 4,000 shares of Lovesac stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $24.68 per share, with a total value of $98,720.00. Following the completion of the purchase, the director now owns 23,540 shares of the company’s stock, valued at $580,967.20. This represents a 20.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Albert Jack Krause sold 30,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $26.33, for a total value of $789,900.00. Following the transaction, the director now directly owns 147,849 shares in the company, valued at $3,892,864.17. This trade represents a 16.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LOVE has been the subject of several recent research reports. Canaccord Genuity Group upped their price objective on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Roth Mkm upped their price objective on Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, DA Davidson dropped their price objective on Lovesac from $44.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $38.33.

Lovesac Company Profile

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.