The Lovesac Company (NASDAQ:LOVE) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its holdings in The Lovesac Company (NASDAQ:LOVE - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 289,367 shares of the company's stock after selling 33,710 shares during the quarter. Kornitzer Capital Management Inc. KS owned 1.88% of Lovesac worth $6,846,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Senvest Management LLC boosted its holdings in Lovesac by 47.3% in the third quarter. Senvest Management LLC now owns 943,022 shares of the company's stock worth $27,018,000 after acquiring an additional 302,643 shares in the last quarter. Anson Funds Management LP boosted its holdings in Lovesac by 13.9% in the third quarter. Anson Funds Management LP now owns 814,363 shares of the company's stock worth $23,332,000 after acquiring an additional 99,651 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Lovesac by 1.2% in the third quarter. Geode Capital Management LLC now owns 336,210 shares of the company's stock worth $9,634,000 after acquiring an additional 3,979 shares in the last quarter. State Street Corp boosted its holdings in Lovesac by 1.7% in the third quarter. State Street Corp now owns 299,081 shares of the company's stock worth $8,569,000 after acquiring an additional 5,124 shares in the last quarter. Finally, Roubaix Capital LLC acquired a new stake in Lovesac in the third quarter worth about $4,520,000. Institutional investors and hedge funds own 91.32% of the company's stock.

Insiders Place Their Bets

In other Lovesac news, Director Albert Jack Krause sold 30,000 shares of the business'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 owns 147,849 shares of the company's stock, valued at approximately $3,892,864.17. The trade was a 16.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Walter Field Mclallen acquired 4,000 shares of the stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $24.68 per share, for a total transaction of $98,720.00. Following the purchase, the director now directly owns 23,540 shares of the company's stock, valued at $580,967.20. The trade was a 20.47 % increase in their position. The disclosure for this purchase can be found here. 12.33% of the stock is currently owned by corporate insiders.

Lovesac Stock Down 5.0 %

Shares of Lovesac stock traded down $1.13 on Friday, reaching $21.65. The company's stock had a trading volume of 361,929 shares, compared to its average volume of 314,336. The company has a market capitalization of $334.06 million, a P/E ratio of 63.68, a PEG ratio of 0.66 and a beta of 3.02. The Lovesac Company has a 52-week low of $18.21 and a 52-week high of $39.49. The stock has a 50-day moving average price of $24.76 and a 200-day moving average price of $27.03.

Lovesac (NASDAQ:LOVE - Get Free Report) last issued its quarterly earnings results on Thursday, December 12th. The company reported ($0.32) EPS 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 analysts' expectations of $155.26 million. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The firm's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.15) earnings per share. Sell-side analysts forecast that The Lovesac Company will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Canaccord Genuity Group lifted their target price on Lovesac from $36.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. Roth Mkm lifted their target price on Lovesac from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Finally, DA Davidson decreased their target price on Lovesac from $44.00 to $35.00 and set a "buy" rating for the company in a report on Friday, December 13th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $38.33.

Lovesac 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.