MML Investors Services LLC Buys 44,358 Shares of The Lovesac Company (NASDAQ:LOVE)

MML Investors Services LLC increased its stake in shares of The Lovesac Company (NASDAQ:LOVE) by 46.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 138,893 shares of the company’s stock after buying an additional 44,358 shares during the quarter. MML Investors Services LLC’s holdings in Lovesac were worth $3,979,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in LOVE. Meeder Asset Management Inc. purchased a new stake in shares of Lovesac during the 2nd quarter worth approximately $43,000. SG Americas Securities LLC purchased a new stake in Lovesac in the third quarter worth $170,000. Valeo Financial Advisors LLC bought a new stake in shares of Lovesac in the third quarter valued at $242,000. Quest Partners LLC lifted its position in shares of Lovesac by 797.6% during the 2nd quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after buying an additional 7,617 shares during the last quarter. Finally, Versor Investments LP bought a new position in shares of Lovesac during the 3rd quarter worth $255,000. Institutional investors own 91.32% of the company’s stock.

Lovesac Trading Up 2.3 %

Shares of Lovesac stock opened at $26.34 on Friday. The company’s 50-day moving average price is $31.56 and its 200-day moving average price is $27.30. The company has a market cap of $409.82 million, a price-to-earnings ratio of 51.65, a PEG ratio of 0.99 and a beta of 2.97. The Lovesac Company has a 12-month low of $18.21 and a 12-month high of $39.49.

Lovesac (NASDAQ:LOVE) last posted its 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. The business had revenue of $149.90 million for the quarter, compared to analysts’ expectations of $155.26 million. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) EPS. On average, sell-side analysts predict that The Lovesac Company will post 1.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LOVE shares. Canaccord Genuity Group boosted their price objective on Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. DA Davidson dropped their price target on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday. 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, Roth Mkm boosted their target price on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Lovesac presently has an average rating of “Buy” and a consensus price target of $38.33.

Insider Activity at Lovesac

In related news, Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total value of $262,200.00. Following the sale, the director now directly 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 SEC, which is available through the SEC website. 12.33% of the stock is owned by corporate insiders.

Lovesac 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.