The Lovesac Company (NASDAQ:LOVE) Shares Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC grew its position in shares of The Lovesac Company (NASDAQ:LOVE) by 18.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,233 shares of the company’s stock after acquiring an additional 1,425 shares during the quarter. MetLife Investment Management LLC owned about 0.06% of Lovesac worth $218,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new stake in Lovesac during the 4th quarter worth approximately $26,000. AlphaQuest LLC purchased a new stake in Lovesac during the fourth quarter worth approximately $70,000. Wells Fargo & Company MN increased its position in shares of Lovesac by 24.8% in the fourth quarter. Wells Fargo & Company MN now owns 9,823 shares of the company’s stock worth $232,000 after acquiring an additional 1,950 shares in the last quarter. M&T Bank Corp purchased a new position in shares of Lovesac in the 4th quarter valued at $321,000. Finally, Versor Investments LP raised its stake in shares of Lovesac by 58.3% in the 4th quarter. Versor Investments LP now owns 14,086 shares of the company’s stock valued at $333,000 after acquiring an additional 5,186 shares during the period. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Oppenheimer reissued an “outperform” rating and issued a $35.00 price objective on shares of Lovesac in a research report on Friday, April 11th. Canaccord Genuity Group dropped their target price on Lovesac from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Roth Mkm boosted their price target on Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Finally, DA Davidson lowered their price objective on shares of Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $31.67.

Lovesac Stock Performance

NASDAQ:LOVE opened at $20.90 on Friday. The stock has a market cap of $310.19 million, a price-to-earnings ratio of 61.46, a price-to-earnings-growth ratio of 0.65 and a beta of 2.48. The Lovesac Company has a one year low of $12.12 and a one year high of $39.49. The business’s 50-day simple moving average is $18.09 and its 200 day simple moving average is $24.45.

Lovesac (NASDAQ:LOVE) last announced its earnings results on Thursday, April 10th. The company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.33. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The company had revenue of $241.50 million for the quarter, compared to analyst estimates of $230.33 million. During the same period in the prior year, the company posted $1.87 EPS. Lovesac’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities research analysts predict that The Lovesac Company will post 0.39 EPS for the current year.

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.