Insider Buying: The Lovesac Company (NASDAQ:LOVE) Director Acquires 3,856 Shares of Stock

The Lovesac Company (NASDAQ:LOVE) Director Andrew R. Heyer purchased 3,856 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 3,856 shares in the company, valued at $72,338.56. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Lovesac Stock Performance

Shares of LOVE stock opened at $20.80 on Friday. The company has a market capitalization of $322.19 million, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 0.45 and a beta of 2.87. The company’s 50 day moving average price is $22.51 and its two-hundred day moving average price is $21.75. The Lovesac Company has a 52 week low of $14.18 and a 52 week high of $29.81.

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

Analyst Ratings Changes

LOVE has been the topic of a number of analyst reports. Roth Mkm reiterated a “buy” rating and issued a $34.00 price target on shares of Lovesac in a research report on Wednesday, April 10th. Maxim Group initiated coverage on shares of Lovesac in a research report on Wednesday. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Canaccord Genuity Group cut their price target on shares of Lovesac from $44.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, April 12th.

Hedge Funds Weigh In On Lovesac

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Lovesac by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 829,792 shares of the company’s stock worth $21,201,000 after acquiring an additional 20,300 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Lovesac during the 4th quarter worth approximately $340,000. Price T Rowe Associates Inc. MD bought a new position in shares of Lovesac during the 4th quarter worth approximately $228,000. Barclays PLC grew its stake in shares of Lovesac by 264.3% during the 4th quarter. Barclays PLC now owns 22,626 shares of the company’s stock worth $578,000 after acquiring an additional 16,416 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Lovesac by 120.6% during the 4th quarter. Nuveen Asset Management LLC now owns 207,912 shares of the company’s stock worth $5,312,000 after acquiring an additional 113,676 shares in the last quarter. 91.32% of the stock is owned by institutional investors.

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.