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

The Lovesac Company (NASDAQ:LOVE - Get Free Report) has received a consensus rating of "Buy" from the six analysts that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $35.17.

Several analysts recently commented on LOVE shares. Roth Mkm lifted their price objective on Lovesac from $31.00 to $35.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $36.00 price target on shares of Lovesac in a research report on Friday, September 13th. Craig Hallum raised their price objective on shares of Lovesac from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, September 13th. Finally, DA Davidson restated a "buy" rating and set a $32.00 target price on shares of Lovesac in a research report on Thursday, October 3rd.

Insider Buying and Selling at Lovesac

In other news, Director Albert Jack Krause sold 10,000 shares of the company's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total value of $262,200.00. Following the completion of the transaction, the director now owns 177,849 shares of the company's stock, valued at $4,663,200.78. This represents a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 12.33% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Senvest Management LLC boosted its holdings in shares of Lovesac by 47.3% during the 3rd quarter. Senvest Management LLC now owns 943,022 shares of the company's stock valued at $27,018,000 after purchasing an additional 302,643 shares during the last quarter. Marshall Wace LLP purchased a new position in Lovesac during the 2nd quarter valued at approximately $4,328,000. Roubaix Capital LLC bought a new stake in Lovesac in the 3rd quarter worth approximately $4,520,000. American Century Companies Inc. raised its holdings in shares of 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. Finally, Anson Funds Management LP boosted its position in shares of Lovesac by 13.9% during the 3rd 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 last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.

Lovesac Stock Performance

Shares of NASDAQ:LOVE opened at $37.10 on Wednesday. The business has a 50-day simple moving average of $29.06 and a two-hundred day simple moving average of $26.40. The firm has a market cap of $577.28 million, a price-to-earnings ratio of 72.75, a price-to-earnings-growth ratio of 1.01 and a beta of 2.91. Lovesac has a fifty-two week low of $18.21 and a fifty-two week high of $38.94.

Lovesac (NASDAQ:LOVE - Get Free Report) last issued its quarterly earnings data on Thursday, September 12th. The company reported ($0.38) earnings per share for the quarter, beating analysts' consensus estimates of ($0.46) by $0.08. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. The company had revenue of $156.59 million for the quarter, compared to the consensus estimate of $154.01 million. As a group, research analysts predict that Lovesac will post 1.09 earnings per share for the current 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.