The Lovesac Company (NASDAQ:LOVE) Given Average Rating of "Buy" by Brokerages

Shares of The Lovesac Company (NASDAQ:LOVE - Get Free Report) have earned an average recommendation of "Buy" from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $38.33.

LOVE has been the topic of a number of recent analyst reports. Canaccord Genuity Group lifted their price target on shares of Lovesac from $36.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. DA Davidson dropped their target price on shares of Lovesac from $44.00 to $35.00 and set a "buy" rating on the stock in a report on Friday, December 13th. Finally, Roth Mkm upped their price target on shares of Lovesac from $35.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, December 10th.

Insider Buying and Selling

In other Lovesac news, Director Walter Field Mclallen purchased 4,000 shares of the firm's stock in a transaction on Friday, December 20th. The shares were purchased at an average price of $24.68 per share, for a total transaction of $98,720.00. Following the completion of the purchase, the director now directly owns 23,540 shares of the company's stock, valued at approximately $580,967.20. This represents a 20.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.33% of the stock is owned by company insiders.

Institutional Trading of Lovesac

Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC lifted 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 worth $2,314,000 after purchasing an additional 34,451 shares during the period. Franklin Resources Inc. acquired a new position in shares of Lovesac in the 3rd quarter worth approximately $231,000. Millrace Asset Group Inc. lifted its position in shares of Lovesac by 63.0% during the 3rd quarter. Millrace Asset Group Inc. now owns 68,503 shares of the company's stock worth $1,963,000 after buying an additional 26,481 shares during the period. Dimensional Fund Advisors LP boosted its stake in Lovesac by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company's stock valued at $17,951,000 after buying an additional 26,872 shares in the last quarter. Finally, Anson Funds Management LP grew its position in Lovesac by 13.9% in the third quarter. Anson Funds Management LP now owns 814,363 shares of the company's stock valued at $23,332,000 after acquiring an additional 99,651 shares during the period. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Lovesac Price Performance

NASDAQ:LOVE traded up $0.25 during trading hours on Thursday, reaching $26.44. The company's stock had a trading volume of 262,733 shares, compared to its average volume of 420,883. The company has a market cap of $407.97 million, a price-to-earnings ratio of 77.76, a price-to-earnings-growth ratio of 1.96 and a beta of 3.04. Lovesac has a one year low of $18.21 and a one year high of $39.49. The business's 50-day moving average is $29.97 and its 200-day moving average is $27.29.

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

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.