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

Shares of The Lovesac Company (NASDAQ:LOVE - Get Free Report) have been given an average rating of "Buy" by the six analysts that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued a report on the stock in the last year is $38.33.

LOVE has been the topic of a number of research analyst reports. Canaccord Genuity Group upped their price target on shares of Lovesac from $36.00 to $45.00 and gave the stock a "buy" rating in a 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 research note on Friday, December 13th. Craig Hallum lifted their price target on shares of Lovesac from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, September 13th. Finally, Roth Mkm boosted their price target on Lovesac from $35.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, December 10th.

Insider Activity

In related news, Director Albert Jack Krause sold 10,000 shares of the firm's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total transaction of $262,200.00. Following the sale, the director now owns 177,849 shares of the company's stock, valued at $4,663,200.78. This trade represents a 5.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.33% of the company's stock.

Institutional Trading of Lovesac

Hedge funds have recently modified their holdings of the company. Senvest Management LLC lifted 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 acquired a new position in Lovesac during the 2nd quarter valued at about $4,328,000. Roubaix Capital LLC purchased a new stake in Lovesac in the third quarter valued at about $4,520,000. American Century Companies Inc. boosted its holdings in Lovesac by 78.6% in the second 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 grew its stake in shares of Lovesac by 13.9% during the third 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 last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.

Lovesac Stock Performance

NASDAQ LOVE traded up $0.51 during trading on Friday, hitting $23.93. The stock had a trading volume of 536,476 shares, compared to its average volume of 310,017. The stock has a market capitalization of $369.31 million, a price-to-earnings ratio of 46.92, a P/E/G ratio of 0.99 and a beta of 2.97. The stock has a 50 day simple moving average of $31.56 and a 200 day simple moving average of $27.20. Lovesac has a one year low of $18.21 and a one year high of $39.49.

Lovesac (NASDAQ:LOVE - Get Free Report) last posted its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.34) by $0.02. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The company had revenue of $149.90 million during the quarter, compared to analysts' expectations of $155.26 million. During the same quarter in the previous year, the business earned ($0.15) EPS. Lovesac's revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Lovesac will post 1.09 EPS for the current year.

Lovesac Company 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.