Lovesac’s (LOVE) “Buy” Rating Reaffirmed at Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Lovesac (NASDAQ:LOVE) in a research report report published on Friday morning, Benzinga reports. They currently have a $37.00 target price on the stock.

Lovesac Stock Performance

Lovesac stock opened at $25.44 on Friday. Lovesac has a 52 week low of $17.60 and a 52 week high of $30.93. The firm has a market capitalization of $387.20 million, a PE ratio of 18.71, a PEG ratio of 0.34 and a beta of 2.46. The business’s 50-day simple moving average is $26.21 and its 200-day simple moving average is $25.96.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings data on Wednesday, June 7th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.11. The company had revenue of $141.20 million during the quarter, compared to analysts’ expectations of $133.73 million. Lovesac had a return on equity of 12.52% and a net margin of 3.33%. Lovesac’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 earnings per share. Research analysts forecast that Lovesac will post 1.88 earnings per share for the current year.

Hedge Funds Weigh In On Lovesac

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hood River Capital Management LLC acquired a new stake in shares of Lovesac during the 1st quarter worth approximately $30,198,000. Intrinsic Edge Capital Management LLC bought a new stake in Lovesac in the 2nd quarter valued at $15,017,000. Renaissance Technologies LLC acquired a new position in shares of Lovesac in the 1st quarter valued at $12,996,000. Dimensional Fund Advisors LP lifted its holdings in shares of Lovesac by 211.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 411,939 shares of the company’s stock worth $11,904,000 after acquiring an additional 279,545 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Lovesac by 748.7% during the 2nd quarter. Millennium Management LLC now owns 296,462 shares of the company’s stock valued at $8,153,000 after acquiring an additional 261,529 shares in the last quarter.

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 lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 40 states of the United States; and in store pop-up- shops and shop-in-shops.