SG Americas Securities LLC Takes Position in The Lovesac Company (NASDAQ:LOVE)

SG Americas Securities LLC acquired a new stake in The Lovesac Company (NASDAQ:LOVE) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 4,550 shares of the company’s stock, valued at approximately $116,000.

Other hedge funds have also modified their holdings of the company. Captrust Financial Advisors increased its holdings in shares of Lovesac by 110.6% in the first quarter. Captrust Financial Advisors now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 303 shares during the period. Citigroup Inc. increased its holdings in shares of Lovesac by 32.6% in the first quarter. Citigroup Inc. now owns 2,339 shares of the company’s stock valued at $68,000 after purchasing an additional 575 shares during the period. Royal Bank of Canada increased its holdings in shares of Lovesac by 230.0% in the second quarter. Royal Bank of Canada now owns 2,627 shares of the company’s stock valued at $70,000 after purchasing an additional 1,831 shares during the period. State of Wyoming increased its holdings in shares of Lovesac by 338.3% in the fourth quarter. State of Wyoming now owns 3,651 shares of the company’s stock valued at $80,000 after purchasing an additional 2,818 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Lovesac by 567.0% in the third quarter. Tower Research Capital LLC TRC now owns 3,675 shares of the company’s stock valued at $73,000 after purchasing an additional 3,124 shares during the period. 91.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LOVE. Canaccord Genuity Group cut their price objective on Lovesac from $44.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Roth Mkm reaffirmed a “buy” rating and set a $34.00 target price on shares of Lovesac in a report on Wednesday, April 10th. Finally, Maxim Group initiated coverage on Lovesac in a report on Wednesday. They set a “buy” rating and a $36.00 target price on the stock.

Insider Buying and Selling at Lovesac

In other Lovesac news, Director Andrew R. Heyer acquired 3,856 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were bought at an average cost of $18.76 per share, with a total value of $72,338.56. Following the completion of the acquisition, the director now owns 3,856 shares in the company, valued at $72,338.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Shawn David Nelson sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $22.44, for a total value of $134,640.00. Following the transaction, the chief executive officer now owns 179,970 shares in the company, valued at $4,038,526.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew R. Heyer bought 3,856 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was purchased at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the transaction, the director now owns 3,856 shares of the company’s stock, valued at $72,338.56. The disclosure for this purchase can be found here. 12.09% of the stock is owned by corporate insiders.

Lovesac Stock Up 0.8 %

Lovesac stock opened at $20.35 on Friday. The firm has a market cap of $315.22 million, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.43 and a beta of 2.87. The Lovesac Company has a 52 week low of $14.18 and a 52 week high of $29.81. The business’s 50-day moving average price is $22.59 and its 200 day moving average price is $21.74.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings data on Thursday, April 11th. The company reported $1.87 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.06). Lovesac had a net margin of 3.39% and a return on equity of 12.19%. The business had revenue of $250.00 million during the quarter, compared to analyst estimates of $265.35 million. During the same period in the previous year, the business posted $1.74 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities analysts expect that The Lovesac Company will post 1.3 EPS for the current year.

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.