New York State Common Retirement Fund Purchases 113,073 Shares of The Lovesac Company (NASDAQ:LOVE)

New York State Common Retirement Fund raised its position in shares of The Lovesac Company (NASDAQ:LOVE - Free Report) by 1,976.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,795 shares of the company's stock after buying an additional 113,073 shares during the quarter. New York State Common Retirement Fund owned 0.77% of Lovesac worth $2,811,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Senvest Management LLC boosted its position in shares of 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 buying an additional 302,643 shares during the period. Anson Funds Management LP boosted its position in Lovesac by 13.9% during the 3rd 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 during the period. MML Investors Services LLC boosted its holdings in shares of Lovesac by 46.9% during the third quarter. MML Investors Services LLC now owns 138,893 shares of the company's stock worth $3,979,000 after purchasing an additional 44,358 shares during the period. Jane Street Group LLC grew its position 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 purchasing an additional 34,451 shares in the last quarter. Finally, Millrace Asset Group Inc. increased its stake in Lovesac by 63.0% in the 3rd quarter. Millrace Asset Group Inc. now owns 68,503 shares of the company's stock valued at $1,963,000 after buying an additional 26,481 shares during the period. 91.32% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

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

Lovesac Price Performance

NASDAQ:LOVE traded down $0.11 during trading hours on Wednesday, reaching $19.12. The company's stock had a trading volume of 491,951 shares, compared to its average volume of 323,485. The Lovesac Company has a one year low of $18.21 and a one year high of $39.49. The business's 50-day moving average is $24.10 and its 200-day moving average is $26.95. The company has a market cap of $295.08 million, a price-to-earnings ratio of 56.24, a price-to-earnings-growth ratio of 0.65 and a beta of 3.05.

Lovesac (NASDAQ:LOVE - Get Free Report) last issued its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) EPS for the quarter, beating analysts' consensus estimates of ($0.34) by $0.02. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The business had revenue of $149.90 million for the quarter, compared to analyst estimates of $155.26 million. During the same quarter in the prior year, the firm posted ($0.15) EPS. The firm's revenue for the quarter was down 2.7% on a year-over-year basis. On average, sell-side analysts predict that The Lovesac Company will post 0.39 EPS for the current fiscal year.

Insider Transactions at Lovesac

In related news, Director Albert Jack Krause sold 30,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 147,849 shares in the company, valued at $3,892,864.17. This represents a 16.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Walter Field Mclallen purchased 4,000 shares of the company's stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of $24.68 per share, for a total transaction of $98,720.00. Following the completion of the transaction, the director now owns 23,540 shares in the company, valued at approximately $580,967.20. This trade represents a 20.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.33% of the stock is owned by corporate insiders.

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.