Charles Schwab Investment Management Inc. Decreases Holdings in The Lovesac Company (NASDAQ:LOVE)

Charles Schwab Investment Management Inc. trimmed its holdings in The Lovesac Company (NASDAQ:LOVE) by 2.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 40,281 shares of the company’s stock after selling 1,182 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.26% of Lovesac worth $1,154,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Meeder Asset Management Inc. bought a new stake in Lovesac in the second quarter worth $43,000. SG Americas Securities LLC purchased a new position in shares of Lovesac in the third quarter worth about $170,000. Quest Partners LLC lifted its stake in shares of Lovesac by 797.6% in the 2nd quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after acquiring an additional 7,617 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in Lovesac during the 3rd quarter valued at about $242,000. Finally, Versor Investments LP bought a new position in Lovesac during the 3rd quarter worth approximately $255,000. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Lovesac Stock Down 1.0 %

Shares of LOVE stock opened at $26.69 on Wednesday. The firm has a market capitalization of $411.91 million, a price-to-earnings ratio of 78.50, a PEG ratio of 0.99 and a beta of 2.97. The stock has a fifty day moving average of $31.61 and a 200 day moving average of $27.28. The Lovesac Company has a 52 week low of $18.21 and a 52 week high of $39.49.

Lovesac (NASDAQ:LOVE) last posted its earnings results on Thursday, December 12th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.02. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. The firm had revenue of $149.90 million during the quarter, compared to analysts’ expectations of $155.26 million. During the same period last year, the company posted ($0.15) EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities research analysts anticipate that The Lovesac Company will post 1.09 earnings per share for the current year.

Insider Buying and Selling at Lovesac

In related news, Director Albert Jack Krause sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total value of $262,200.00. Following the transaction, the director now owns 177,849 shares in the company, valued at $4,663,200.78. The trade was a 5.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Craig Hallum boosted their price objective on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Roth Mkm upped their price target on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. DA Davidson dropped their price target on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Finally, Canaccord Genuity Group boosted their price objective on shares of Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Lovesac has an average rating of “Buy” and a consensus target price of $38.33.

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.