Marshall Wace LLP Takes $4.33 Million Position in The Lovesac Company (NASDAQ:LOVE)

Marshall Wace LLP purchased a new position in shares of The Lovesac Company (NASDAQ:LOVE - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 191,655 shares of the company's stock, valued at approximately $4,328,000. Marshall Wace LLP owned approximately 1.23% of Lovesac at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in Lovesac by 78.6% during the 2nd quarter. American Century Companies Inc. now owns 291,579 shares of the company's stock worth $6,584,000 after acquiring an additional 128,285 shares in the last quarter. Anson Funds Management LP bought a new position in Lovesac in the first quarter worth approximately $1,742,000. Hood River Capital Management LLC raised its stake in Lovesac by 8.8% in the second quarter. Hood River Capital Management LLC now owns 774,015 shares of the company's stock worth $17,477,000 after buying an additional 62,615 shares in the last quarter. LSV Asset Management bought a new stake in Lovesac during the 1st quarter valued at $988,000. Finally, CastleKnight Management LP increased its holdings in shares of Lovesac by 251.3% in 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 during the period. Hedge funds and other institutional investors own 91.32% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LOVE shares. Roth Mkm upped their price objective on Lovesac from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, September 13th. DA Davidson lifted their price objective on shares of Lovesac from $24.00 to $32.00 and gave the stock a "buy" rating in a research report on Friday, June 14th. Canaccord Genuity Group reiterated a "buy" rating and set a $36.00 price objective on shares of Lovesac in a research note on Friday, September 13th. Maxim Group raised 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. Finally, Craig Hallum upped their price target on Lovesac from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, September 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $34.50.

Lovesac Stock Down 4.7 %

Shares of Lovesac stock traded down $1.29 during midday trading on Wednesday, hitting $26.26. The company had a trading volume of 175,376 shares, compared to its average volume of 291,774. The stock has a market cap of $408.37 million, a price-to-earnings ratio of 31.56, a PEG ratio of 0.71 and a beta of 2.90. The Lovesac Company has a 12-month low of $14.18 and a 12-month high of $30.39. The company has a fifty day simple moving average of $24.77 and a 200 day simple moving average of $24.39.

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.