The Lovesac Company (NASDAQ:LOVE) Receives Consensus Rating of “Buy” from Analysts

The Lovesac Company (NASDAQ:LOVE) has received a consensus rating of “Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $38.33.

A number of equities research analysts have recently commented on LOVE shares. Canaccord Genuity Group increased their target price on shares of Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Roth Mkm increased their price objective on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, DA Davidson restated a “buy” rating and set a $35.00 target price on shares of Lovesac in a report on Tuesday, March 25th.

Insider Buying and Selling at Lovesac

In other news, Director Albert Jack Krause sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $26.33, for a total value of $789,900.00. Following the sale, the director now directly owns 147,849 shares of the company’s stock, valued at approximately $3,892,864.17. The trade was a 16.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Heck Capital Advisors LLC acquired a new stake in Lovesac during the 4th quarter worth approximately $26,000. Charles Schwab Investment Management Inc. increased its position in shares of Lovesac by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,524 shares of the company’s stock worth $982,000 after acquiring an additional 1,243 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Lovesac by 13.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,462 shares of the company’s stock valued at $272,000 after acquiring an additional 1,333 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Lovesac by 18.3% in the fourth quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock valued at $218,000 after purchasing an additional 1,425 shares during the period. Finally, BCGM Wealth Management LLC grew its stake in Lovesac by 1.2% during the 4th quarter. BCGM Wealth Management LLC now owns 135,979 shares of the company’s stock worth $3,217,000 after purchasing an additional 1,615 shares in the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Lovesac Trading Down 2.5 %

NASDAQ:LOVE opened at $18.18 on Tuesday. The firm has a market cap of $280.57 million, a P/E ratio of 53.47, a price-to-earnings-growth ratio of 0.65 and a beta of 3.05. The stock has a 50 day moving average of $21.10 and a two-hundred day moving average of $26.18. Lovesac has a 12 month low of $15.22 and a 12 month high of $39.49.

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.