Lovesac (NASDAQ:LOVE - Get Free Report) had its price target cut by analysts at DA Davidson from $35.00 to $24.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. DA Davidson's price target would suggest a potential upside of 23.90% from the company's previous close.
Separately, Canaccord Genuity Group reduced their price objective on Lovesac from $45.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $31.67.
View Our Latest Stock Analysis on LOVE
Lovesac Stock Performance
Shares of NASDAQ:LOVE traded down $0.12 during mid-day trading on Friday, hitting $19.37. 356,612 shares of the company traded hands, compared to its average volume of 365,737. The firm's 50 day simple moving average is $18.77 and its 200 day simple moving average is $25.23. The firm has a market cap of $298.94 million, a P/E ratio of 56.97, a PEG ratio of 0.65 and a beta of 3.08. Lovesac has a 52-week low of $12.12 and a 52-week high of $39.49.
Lovesac (NASDAQ:LOVE - Get Free Report) last issued its quarterly earnings results on Thursday, April 10th. The company reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $1.80 by $0.33. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The firm had revenue of $241.50 million during the quarter, compared to the consensus estimate of $230.33 million. During the same quarter in the prior year, the business posted $1.87 earnings per share. Lovesac's revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts expect that Lovesac will post 0.39 EPS for the current fiscal year.
Insider Buying and Selling
In other news, 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 transaction of $789,900.00. Following the transaction, the director now directly owns 147,849 shares of the company's stock, valued at approximately $3,892,864.17. This trade 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 accessible through the SEC website. Corporate insiders own 12.33% of the company's stock.
Institutional Investors Weigh In On Lovesac
Institutional investors and hedge funds have recently bought and sold shares of the business. SummerHaven Investment Management LLC lifted its stake in Lovesac by 1.7% during the first quarter. SummerHaven Investment Management LLC now owns 33,949 shares of the company's stock valued at $617,000 after buying an additional 562 shares in the last quarter. SG Americas Securities LLC lifted its position in Lovesac by 1,165.7% during the 1st quarter. SG Americas Securities LLC now owns 304,586 shares of the company's stock worth $5,537,000 after acquiring an additional 280,522 shares during the last quarter. GAMMA Investing LLC increased its stake in Lovesac by 12,234.3% in the first quarter. GAMMA Investing LLC now owns 12,581 shares of the company's stock valued at $229,000 after acquiring an additional 12,479 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of Lovesac in the 4th quarter valued at approximately $26,000. Finally, AWM Investment Company Inc. boosted its stake in Lovesac by 33.2% in the 4th quarter. AWM Investment Company Inc. now owns 681,741 shares of the company's stock valued at $16,130,000 after buying an additional 170,045 shares in the last quarter. 91.32% of the stock is owned by institutional investors and hedge funds.
About Lovesac
(
Get 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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