Harvest Investment Services LLC raised its stake in The Lovesac Company (NASDAQ:LOVE - Free Report) by 58.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,800 shares of the company's stock after acquiring an additional 23,597 shares during the quarter. Harvest Investment Services LLC owned approximately 0.41% of Lovesac worth $1,510,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of the stock. Heck Capital Advisors LLC purchased a new stake in Lovesac during the fourth quarter valued at about $26,000. AlphaQuest LLC purchased a new stake in shares of Lovesac during the 4th quarter valued at approximately $70,000. MetLife Investment Management LLC boosted its holdings in Lovesac by 18.3% in the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company's stock worth $218,000 after buying an additional 1,425 shares during the period. Franklin Resources Inc. purchased a new position in Lovesac in the 3rd quarter valued at approximately $231,000. Finally, Wells Fargo & Company MN raised its holdings in Lovesac by 24.8% during the 4th quarter. Wells Fargo & Company MN now owns 9,823 shares of the company's stock valued at $232,000 after acquiring an additional 1,950 shares during the period. Hedge funds and other institutional investors own 91.32% of the company's stock.
Lovesac Trading Up 1.6 %
LOVE opened at $20.95 on Friday. The stock has a market capitalization of $309.93 million, a P/E ratio of 61.62, a PEG ratio of 0.65 and a beta of 3.08. The Lovesac Company has a 12-month low of $12.12 and a 12-month high of $39.49. The stock has a 50-day moving average price of $18.41 and a 200-day moving average price of $24.94.
Lovesac (NASDAQ:LOVE - Get Free Report) last posted its quarterly earnings results on Thursday, April 10th. The company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.80 by $0.33. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The firm had revenue of $241.50 million for the quarter, compared to the consensus estimate of $230.33 million. During the same period last year, the firm posted $1.87 earnings per share. The business's revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts predict that The Lovesac Company will post 0.39 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on LOVE shares. Canaccord Genuity Group reduced their price target on Lovesac from $45.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, April 11th. DA Davidson decreased their price target on Lovesac from $35.00 to $24.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Oppenheimer restated an "outperform" rating and issued a $35.00 price objective on shares of Lovesac in a research report on Friday, April 11th. Finally, Roth Mkm upped their target price on shares of Lovesac from $22.00 to $28.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lovesac presently has an average rating of "Buy" and an average price target of $31.67.
Check Out Our Latest Research Report on LOVE
Lovesac Profile
(
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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