Lovesac's (LOVE) Buy Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Lovesac (NASDAQ:LOVE - Free Report) in a research note released on Tuesday morning,Benzinga reports. DA Davidson currently has a $35.00 target price on the stock.

LOVE has been the subject of a number of other reports. Roth Mkm upped their price target on Lovesac from $35.00 to $42.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Canaccord Genuity Group upped their target price on Lovesac from $36.00 to $45.00 and gave the company a "buy" rating in a report on Monday, December 2nd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $38.33.

Lovesac Price Performance

NASDAQ LOVE traded down $0.01 during trading hours on Tuesday, hitting $18.65. 269,499 shares of the company's stock traded hands, compared to its average volume of 343,985. The company has a market capitalization of $287.83 million, a PE ratio of 54.85, a PEG ratio of 0.65 and a beta of 3.05. Lovesac has a 52-week low of $15.22 and a 52-week high of $39.49. The firm's 50-day moving average is $21.26 and its 200-day moving average is $26.16.

Insider Buying and Selling at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 30,000 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $26.33, for a total transaction of $789,900.00. Following the completion of the transaction, the director now owns 147,849 shares of the company's stock, valued at $3,892,864.17. This trade represents a 16.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 12.33% of the company's stock.

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Hedge Funds Weigh In On Lovesac

Several large investors have recently made changes to their positions in LOVE. Heck Capital Advisors LLC purchased a new stake in Lovesac in the fourth quarter valued at approximately $26,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Lovesac in the fourth quarter valued at $49,000. AlphaQuest LLC purchased a new stake in shares of Lovesac in the 4th quarter valued at $70,000. Franklin Resources Inc. purchased a new stake in shares of Lovesac in the 3rd quarter valued at $231,000. Finally, MetLife Investment Management LLC lifted its stake in Lovesac by 18.3% during the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company's stock worth $218,000 after acquiring an additional 1,425 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

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.