Arrowstreet Capital Limited Partnership grew its holdings in The Lovesac Company (NASDAQ:LOVE - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 279,682 shares of the company's stock after acquiring an additional 24,559 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.81% of Lovesac worth $6,617,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Heck Capital Advisors LLC acquired a new stake in Lovesac in the 4th quarter valued at $26,000. AlphaQuest LLC acquired a new stake in shares of Lovesac in the fourth quarter valued at about $70,000. Franklin Resources Inc. purchased a new stake in shares of Lovesac during the 3rd quarter valued at about $231,000. M&T Bank Corp acquired a new position in Lovesac during the 4th quarter worth approximately $321,000. Finally, Versor Investments LP lifted its position in Lovesac by 58.3% during the 4th quarter. Versor Investments LP now owns 14,086 shares of the company's stock worth $333,000 after acquiring an additional 5,186 shares in the last quarter. Hedge funds and other institutional investors own 91.32% of the company's stock.
Lovesac Price Performance
Shares of NASDAQ:LOVE traded down $0.15 during midday trading on Friday, reaching $18.34. The company had a trading volume of 801,846 shares, compared to its average volume of 363,604. The Lovesac Company has a one year low of $12.12 and a one year high of $39.49. The stock has a market capitalization of $283.04 million, a P/E ratio of 53.94, a PEG ratio of 0.65 and a beta of 3.08. The stock's fifty day moving average price is $18.93 and its 200-day moving average price is $25.35.
Lovesac (NASDAQ:LOVE - Get Free Report) last issued its earnings results on Thursday, April 10th. The company reported $2.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.80 by $0.33. The business had revenue of $241.50 million for the quarter, compared to analyst estimates of $230.33 million. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The company's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.87 EPS. As a group, sell-side analysts forecast that The Lovesac Company will post 0.39 earnings per share for the current year.
Insiders Place Their Bets
In other Lovesac news, Director Albert Jack Krause sold 30,000 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $26.33, for a total transaction of $789,900.00. Following the sale, the director now directly owns 147,849 shares of the company's stock, valued at approximately $3,892,864.17. This represents a 16.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.33% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on LOVE shares. DA Davidson dropped their price objective on shares of Lovesac from $35.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday. Oppenheimer reaffirmed an "outperform" rating and set a $35.00 price target on shares of Lovesac in a report on Friday. Roth Mkm boosted their price objective on shares of Lovesac from $22.00 to $28.00 and gave the stock a "buy" rating in a report on Friday. Finally, Canaccord Genuity Group decreased their price objective on shares of Lovesac from $45.00 to $30.00 and set a "buy" rating for the company in a research report on Friday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $31.67.
Read Our Latest Research Report on LOVE
Lovesac Profile
(
Free Report)
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.
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