MML Investors Services LLC Acquires 44,358 Shares of The Lovesac Company (NASDAQ:LOVE)

MML Investors Services LLC raised its holdings in The Lovesac Company (NASDAQ:LOVE - Free Report) by 46.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 138,893 shares of the company's stock after acquiring an additional 44,358 shares during the quarter. MML Investors Services LLC owned approximately 0.89% of Lovesac worth $3,979,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Meeder Asset Management Inc. acquired a new position in shares of Lovesac in the 2nd quarter worth approximately $43,000. SG Americas Securities LLC acquired a new position in shares of Lovesac during the third quarter worth approximately $170,000. Quest Partners LLC lifted its stake in shares of Lovesac by 797.6% in the second quarter. Quest Partners LLC now owns 8,572 shares of the company's stock valued at $194,000 after buying an additional 7,617 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Lovesac by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company's stock valued at $218,000 after purchasing an additional 726 shares during the last quarter. Finally, Valeo Financial Advisors LLC acquired a new position in Lovesac during the 3rd quarter valued at about $242,000. Institutional investors own 91.32% of the company's stock.

Insider Activity at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of the business's stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total value of $262,200.00. Following the sale, the director now directly owns 177,849 shares in the company, valued at $4,663,200.78. The trade was a 5.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 12.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

LOVE has been the subject of a number of analyst reports. Craig Hallum increased their price target on Lovesac from $30.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, September 13th. Roth Mkm increased their target price on shares of Lovesac from $35.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday. DA Davidson dropped their price target on shares of Lovesac from $44.00 to $35.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Canaccord Genuity Group upped their price objective on shares of Lovesac from $36.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $38.33.

Lovesac Trading Up 2.3 %

Shares of NASDAQ:LOVE traded up $0.60 during midday trading on Friday, reaching $26.34. The company had a trading volume of 899,095 shares, compared to its average volume of 304,321. The stock has a market cap of $409.82 million, a P/E ratio of 51.65, a P/E/G ratio of 0.99 and a beta of 2.97. The company's 50 day moving average price is $31.56 and its 200 day moving average price is $27.29. The Lovesac Company has a 52-week low of $18.21 and a 52-week high of $39.49.

Lovesac (NASDAQ:LOVE - Get Free Report) last released its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, beating analysts' consensus estimates of ($0.34) by $0.02. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. The firm had revenue of $149.90 million for the quarter, compared to analysts' expectations of $155.26 million. During the same period in the previous year, the company earned ($0.15) earnings per share. The company's quarterly revenue was down 2.7% on a year-over-year basis. Research analysts forecast that The Lovesac Company will post 1.09 EPS for the current fiscal year.

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.