Short Interest in The Lovesac Company (NASDAQ:LOVE) Rises By 25.6%

The Lovesac Company (NASDAQ:LOVE) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 3,870,000 shares, an increase of 25.6% from the February 28th total of 3,080,000 shares. Based on an average daily volume of 382,000 shares, the short-interest ratio is currently 10.1 days. Approximately 27.6% of the company’s stock are sold short.

Insider Buying and Selling

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 transaction of $789,900.00. Following the completion of the transaction, the director now directly owns 147,849 shares of the company’s stock, valued at $3,892,864.17. The trade was a 16.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Lovesac

Hedge funds have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new stake in shares of Lovesac in the fourth quarter worth about $26,000. AWM Investment Company Inc. lifted its stake in shares of Lovesac by 33.2% in the 4th quarter. AWM Investment Company Inc. now owns 681,741 shares of the company’s stock valued at $16,130,000 after purchasing an additional 170,045 shares during the period. Squarepoint Ops LLC boosted its holdings in Lovesac by 316.1% during the fourth quarter. Squarepoint Ops LLC now owns 116,829 shares of the company’s stock worth $2,764,000 after buying an additional 88,753 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in Lovesac during the fourth quarter valued at $265,000. Finally, Two Sigma Investments LP increased its holdings in Lovesac by 181.7% in the fourth quarter. Two Sigma Investments LP now owns 86,640 shares of the company’s stock valued at $2,050,000 after buying an additional 55,881 shares in the last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LOVE shares. DA Davidson reiterated a “buy” rating and issued a $35.00 price target on shares of Lovesac in a research note on Tuesday, March 25th. Roth Mkm lifted their price target on Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac currently has an average rating of “Buy” and an average target price of $38.33.

Lovesac Price Performance

LOVE traded up $0.60 during trading on Wednesday, reaching $18.26. 237,382 shares of the company’s stock were exchanged, compared to its average volume of 345,159. The company’s fifty day simple moving average is $20.78 and its 200-day simple moving average is $26.07. The stock has a market capitalization of $281.81 million, a P/E ratio of 53.71, a price-to-earnings-growth ratio of 0.65 and a beta of 3.05. Lovesac has a 1 year low of $15.22 and a 1 year high of $39.49.

Lovesac Company 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.