American Century Companies Inc. boosted its position in The Lovesac Company (NASDAQ:LOVE - Free Report) by 15.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 436,790 shares of the company's stock after acquiring an additional 56,989 shares during the quarter. American Century Companies Inc. owned 2.83% of Lovesac worth $10,334,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC raised its stake in shares of Lovesac by 74.4% in the 3rd quarter. Jane Street Group LLC now owns 80,776 shares of the company's stock valued at $2,314,000 after acquiring an additional 34,451 shares during the period. JPMorgan Chase & Co. boosted its holdings in Lovesac by 76.1% in the third quarter. JPMorgan Chase & Co. now owns 33,510 shares of the company's stock valued at $960,000 after purchasing an additional 14,480 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Lovesac during the 3rd quarter worth approximately $231,000. Bank of New York Mellon Corp boosted its stake in shares of Lovesac by 9.3% during the 4th quarter. Bank of New York Mellon Corp now owns 489,613 shares of the company's stock valued at $11,584,000 after buying an additional 41,751 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Lovesac by 305.0% during the 4th quarter. SG Americas Securities LLC now owns 24,064 shares of the company's stock valued at $569,000 after buying an additional 18,122 shares during the last quarter. Hedge funds and other institutional investors own 91.32% of the company's stock.
Insider Transactions at Lovesac
In other Lovesac news, Director Albert Jack Krause sold 30,000 shares of Lovesac stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $26.33, for a total value of $789,900.00. Following the completion of the transaction, the director now directly owns 147,849 shares in the company, valued at $3,892,864.17. The trade was a 16.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 12.33% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on LOVE shares. Roth Mkm lifted their price target on shares of Lovesac from $35.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. DA Davidson reissued a "buy" rating and issued a $35.00 target price on shares of Lovesac in a research report on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Lovesac presently has a consensus rating of "Buy" and a consensus target price of $38.33.
Check Out Our Latest Analysis on Lovesac
Lovesac Price Performance
LOVE traded down $1.29 during trading hours on Monday, hitting $13.14. 994,221 shares of the stock were exchanged, compared to its average volume of 355,344. The stock has a market cap of $202.79 million, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 0.65 and a beta of 3.08. The stock has a 50-day simple moving average of $20.10 and a 200-day simple moving average of $25.80. The Lovesac Company has a 12 month low of $12.99 and a 12 month high of $39.49.
Lovesac Company Profile
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Free Report)
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.
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