The Lovesac Company (NASDAQ:LOVE) Shares Bought by American Century Companies Inc.

American Century Companies Inc. increased its position in The Lovesac Company (NASDAQ:LOVE - Free Report) by 78.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 291,579 shares of the company's stock after acquiring an additional 128,285 shares during the period. American Century Companies Inc. owned approximately 1.87% of Lovesac worth $6,584,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LOVE. CastleKnight Management LP increased its holdings in Lovesac by 251.3% during the 4th quarter. CastleKnight Management LP now owns 40,400 shares of the company's stock valued at $1,032,000 after acquiring an additional 28,900 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Lovesac in the first quarter valued at approximately $988,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Lovesac during the 1st quarter worth approximately $489,000. Virtu Financial LLC acquired a new position in shares of Lovesac during the 4th quarter worth approximately $340,000. Finally, Wesbanco Bank Inc. acquired a new position in shares of Lovesac during the 2nd quarter worth approximately $305,000. Institutional investors and hedge funds own 91.32% of the company's stock.

Lovesac Stock Performance

Lovesac stock traded down $0.68 during trading on Wednesday, hitting $26.91. The company's stock had a trading volume of 166,395 shares, compared to its average volume of 291,705. The stock's fifty day moving average is $24.84 and its 200 day moving average is $24.20. The Lovesac Company has a 1-year low of $14.18 and a 1-year high of $30.39. The stock has a market capitalization of $418.72 million, a price-to-earnings ratio of 32.46, a P/E/G ratio of 0.71 and a beta of 2.90.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Roth Mkm raised their price target on Lovesac from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, September 13th. Craig Hallum increased their price objective on Lovesac from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, September 13th. Maxim Group boosted their target price on shares of Lovesac from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Monday, June 17th. Canaccord Genuity Group restated a "buy" rating and issued a $36.00 target price on shares of Lovesac in a report on Friday, September 13th. Finally, DA Davidson lifted their price target on shares of Lovesac from $24.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, June 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $34.50.

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.