Lovesac Sees Unusually Large Options Volume (NASDAQ:LOVE)

The Lovesac Company (NASDAQ:LOVE - Get Free Report) saw some unusual options trading on Monday. Investors bought 6,148 call options on the company. This represents an increase of 871% compared to the typical volume of 633 call options.

Analysts Set New Price Targets

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

Lovesac Stock Performance

Shares of NASDAQ LOVE traded up $0.47 during midday trading on Friday, hitting $20.06. 651,279 shares of the stock traded hands, compared to its average volume of 367,873. The business has a 50 day moving average price of $18.62 and a two-hundred day moving average price of $25.08. Lovesac has a one year low of $12.12 and a one year high of $39.49. The company has a market cap of $296.77 million, a PE ratio of 59.00, a P/E/G ratio of 0.65 and a beta of 3.08.

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

Institutional Trading of Lovesac

A number of institutional investors and hedge funds have recently modified their holdings of LOVE. State Street Corp increased its stake in shares of Lovesac by 1.7% during the 3rd quarter. State Street Corp now owns 299,081 shares of the company's stock worth $8,569,000 after purchasing an additional 5,124 shares during the last quarter. Jane Street Group LLC boosted its stake in Lovesac by 74.4% during the third quarter. Jane Street Group LLC now owns 80,776 shares of the company's stock valued at $2,314,000 after buying an additional 34,451 shares during the period. XTX Topco Ltd purchased a new position in shares of Lovesac during the third quarter worth about $381,000. Barclays PLC raised its position in shares of Lovesac by 312.7% during the 3rd quarter. Barclays PLC now owns 20,312 shares of the company's stock valued at $583,000 after buying an additional 15,390 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Lovesac by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 336,210 shares of the company's stock worth $9,634,000 after purchasing an additional 3,979 shares in the last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.

About Lovesac

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.