Lovesac (NASDAQ:LOVE) Receives “Buy” Rating from DA Davidson

DA Davidson reaffirmed their buy rating on shares of Lovesac (NASDAQ:LOVE) in a report issued on Tuesday morning,Benzinga reports. DA Davidson currently has a $35.00 target price on the stock.

LOVE has been the subject of several other research reports. Canaccord Genuity Group boosted their price objective on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Roth Mkm increased their price objective on Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $38.33.

Lovesac Stock Performance

NASDAQ:LOVE opened at $18.66 on Tuesday. Lovesac has a 52-week low of $15.22 and a 52-week high of $39.49. The business’s fifty day moving average is $21.41 and its 200 day moving average is $26.18. The firm has a market cap of $287.98 million, a price-to-earnings ratio of 54.88, a PEG ratio of 0.65 and a beta of 3.05.

Insiders Place Their Bets

In related news, Director Albert Jack Krause sold 30,000 shares of the stock in a transaction dated Friday, January 17th. The shares were 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. This trade represents a 16.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.33% of the company’s stock.

Hedge Funds Weigh In On Lovesac

Institutional investors and hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC bought a new stake in shares of Lovesac in the 4th quarter worth approximately $7,354,000. AWM Investment Company Inc. boosted its holdings in Lovesac by 33.2% in the fourth quarter. AWM Investment Company Inc. now owns 681,741 shares of the company’s stock worth $16,130,000 after acquiring an additional 170,045 shares in the last quarter. Senvest Management LLC increased its holdings in shares of Lovesac by 17.4% during the fourth quarter. Senvest Management LLC now owns 1,106,767 shares of the company’s stock valued at $26,186,000 after acquiring an additional 163,745 shares in the last quarter. Penn Capital Management Company LLC bought a new position in Lovesac in the 4th quarter worth about $3,722,000. Finally, New York State Common Retirement Fund raised its holdings in Lovesac by 1,976.1% in the fourth quarter. New York State Common Retirement Fund now owns 118,795 shares of the company’s stock worth $2,811,000 after buying an additional 113,073 shares during the last quarter. Institutional investors own 91.32% of the company’s stock.

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.