International Assets Investment Management LLC Buys Shares of 10,220 The Lovesac Company (NASDAQ:LOVE)

International Assets Investment Management LLC bought a new stake in shares of The Lovesac Company (NASDAQ:LOVE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,220 shares of the company’s stock, valued at approximately $261,000. International Assets Investment Management LLC owned about 0.07% of Lovesac at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Lovesac during the 4th quarter valued at $116,000. Wellington Management Group LLP boosted its stake in Lovesac by 56.2% during the 3rd quarter. Wellington Management Group LLP now owns 82,000 shares of the company’s stock valued at $1,633,000 after purchasing an additional 29,500 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in Lovesac during the 3rd quarter valued at $255,000. GSA Capital Partners LLP purchased a new stake in Lovesac during the 3rd quarter valued at $1,189,000. Finally, Millrace Asset Group Inc. boosted its stake in Lovesac by 73.9% during the 3rd quarter. Millrace Asset Group Inc. now owns 115,704 shares of the company’s stock valued at $2,305,000 after purchasing an additional 49,153 shares during the last quarter. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Lovesac Price Performance

LOVE stock opened at $21.84 on Friday. The company has a market cap of $338.30 million, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 0.48 and a beta of 2.87. The Lovesac Company has a 1 year low of $14.18 and a 1 year high of $29.81. The stock’s fifty day moving average price is $22.21 and its 200-day moving average price is $21.90.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, April 11th. The company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.06). The firm had revenue of $250.00 million during the quarter, compared to analysts’ expectations 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 earned $1.74 earnings per share. As a group, analysts expect that The Lovesac Company will post 1.3 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on LOVE shares. Maxim Group started coverage on Lovesac in a research note on Wednesday, April 17th. They set a “buy” rating and a $36.00 target price on the stock. Roth Mkm restated a “buy” rating and issued a $34.00 price target on shares of Lovesac in a research note on Wednesday, April 10th. Finally, Canaccord Genuity Group dropped their price target on Lovesac from $44.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, April 12th.

Insider Activity at Lovesac

In related news, CEO Shawn David Nelson sold 6,000 shares of Lovesac stock in a transaction on Friday, March 15th. The stock was sold at an average price of $22.44, for a total transaction of $134,640.00. Following the transaction, the chief executive officer now directly owns 179,970 shares in the company, valued at $4,038,526.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Keith R. Siegner bought 4,800 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were bought at an average cost of $20.80 per share, for a total transaction of $99,840.00. Following the completion of the transaction, the chief financial officer now owns 4,800 shares of the company’s stock, valued at $99,840. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Shawn David Nelson sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.44, for a total value of $134,640.00. Following the sale, the chief executive officer now directly owns 179,970 shares in the company, valued at $4,038,526.80. The disclosure for this sale can be found here. 12.09% of the stock is owned by company insiders.

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.