Great Valley Advisor Group Inc. Takes Position in The Lovesac Company (NASDAQ:LOVE)

Great Valley Advisor Group Inc. purchased a new position in shares of The Lovesac Company (NASDAQ:LOVE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,000 shares of the company’s stock, valued at approximately $281,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LOVE. SG Americas Securities LLC bought a new stake in shares of Lovesac in the 4th quarter worth $116,000. Barclays PLC increased its stake in Lovesac by 15.2% in the 3rd quarter. Barclays PLC now owns 6,210 shares of the company’s stock valued at $124,000 after buying an additional 818 shares during the last quarter. Graham Capital Management L.P. bought a new position in shares of Lovesac during the 3rd quarter worth approximately $255,000. International Assets Investment Management LLC purchased a new position in shares of Lovesac in the 4th quarter worth approximately $261,000. Finally, Cornercap Investment Counsel Inc. bought a new position in shares of Lovesac in the fourth quarter valued at approximately $497,000. 91.32% of the stock is owned by hedge funds and other institutional investors.

Lovesac Stock Up 2.6 %

NASDAQ LOVE opened at $23.98 on Tuesday. The company’s 50 day moving average is $22.18 and its 200-day moving average is $22.20. The firm has a market cap of $371.45 million, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 0.57 and a beta of 2.78. The Lovesac Company has a 12-month low of $14.18 and a 12-month high of $29.81.

Lovesac (NASDAQ:LOVE) last posted its earnings results on Thursday, April 11th. The company reported $1.87 earnings per share (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 analysts’ expectations of $265.35 million. Lovesac had a return on equity of 12.19% and a net margin of 3.39%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.74 EPS. Equities analysts expect that The Lovesac Company will post 1.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Maxim Group assumed coverage on shares of Lovesac in a report on Wednesday, April 17th. They issued a “buy” rating and a $36.00 price target on the stock. Canaccord Genuity Group decreased their price target on shares of Lovesac from $44.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Oppenheimer dropped their price objective on Lovesac from $60.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Finally, Roth Mkm reissued a “buy” rating and issued a $34.00 target price on shares of Lovesac in a research report on Wednesday, April 10th.

Insider Buying and Selling at Lovesac

In other news, CEO Shawn David Nelson sold 6,000 shares of the 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 of the company’s stock, valued at $4,038,526.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Lovesac news, CEO Shawn David Nelson sold 6,000 shares of Lovesac stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.44, for a total transaction of $134,640.00. Following the completion of the sale, the chief executive officer now directly owns 179,970 shares in the company, valued at $4,038,526.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrew R. Heyer acquired 3,856 shares of the stock in a transaction dated Tuesday, April 16th. The shares were bought 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 in the company, valued at approximately $72,338.56. The disclosure for this purchase can be found here. Insiders own 12.09% of the company’s stock.

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.