1492 Capital Management LLC Acquires New Position in The Lovesac Company (NASDAQ:LOVE)

1492 Capital Management LLC bought a new stake in The Lovesac Company (NASDAQ:LOVE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 35,323 shares of the company's stock, valued at approximately $836,000. 1492 Capital Management LLC owned approximately 0.23% of Lovesac as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Heck Capital Advisors LLC bought a new position in Lovesac during the 4th quarter valued at $26,000. Charles Schwab Investment Management Inc. grew its stake in Lovesac by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,524 shares of the company's stock worth $982,000 after purchasing an additional 1,243 shares in the last quarter. BCGM Wealth Management LLC increased its holdings in Lovesac by 1.2% in the fourth quarter. BCGM Wealth Management LLC now owns 135,979 shares of the company's stock valued at $3,217,000 after buying an additional 1,615 shares during the last quarter. Wells Fargo & Company MN raised its stake in Lovesac by 24.8% during the fourth quarter. Wells Fargo & Company MN now owns 9,823 shares of the company's stock valued at $232,000 after buying an additional 1,950 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Lovesac by 10.6% during the 4th quarter. Barclays PLC now owns 22,472 shares of the company's stock worth $531,000 after buying an additional 2,160 shares during the last quarter. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Lovesac Trading Up 2.4 %

LOVE stock traded up $0.49 on Wednesday, hitting $20.69. 440,710 shares of the company's stock traded hands, compared to its average volume of 369,599. The stock has a market cap of $306.09 million, a price-to-earnings ratio of 60.85, a P/E/G ratio of 0.65 and a beta of 3.08. The Lovesac Company has a 1-year low of $12.12 and a 1-year high of $39.49. The stock has a fifty day moving average of $18.52 and a 200-day moving average of $24.99.

Lovesac (NASDAQ:LOVE - Get Free Report) last announced its earnings results on Thursday, April 10th. The company reported $2.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.80 by $0.33. The company had revenue of $241.50 million for the quarter, compared to analyst estimates of $230.33 million. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. Lovesac's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.87 earnings per share. On average, equities research analysts anticipate that The Lovesac Company will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on LOVE. DA Davidson reduced their price target on shares of Lovesac from $35.00 to $24.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Roth Mkm increased their price target on Lovesac from $22.00 to $28.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Canaccord Genuity Group lowered their price objective on Lovesac from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, Oppenheimer reissued an "outperform" rating and set a $35.00 price target on shares of Lovesac in a report on Friday, April 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $31.67.

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.