Cubist Systematic Strategies LLC Buys Shares of 2,089 The Lovesac Company (NASDAQ:LOVE)

Cubist Systematic Strategies LLC bought a new stake in shares of The Lovesac Company (NASDAQ:LOVE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,089 shares of the company’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Lovesac by 76.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,510 shares of the company’s stock valued at $960,000 after purchasing an additional 14,480 shares during the period. Bank of New York Mellon Corp grew its position in shares of Lovesac by 9.3% during the 4th quarter. Bank of New York Mellon Corp now owns 489,613 shares of the company’s stock worth $11,584,000 after buying an additional 41,751 shares during the period. American Century Companies Inc. grew its position in shares of Lovesac by 15.0% during the 4th quarter. American Century Companies Inc. now owns 436,790 shares of the company’s stock worth $10,334,000 after buying an additional 56,989 shares during the period. SG Americas Securities LLC grew its position in shares of Lovesac by 305.0% during the 4th quarter. SG Americas Securities LLC now owns 24,064 shares of the company’s stock worth $569,000 after buying an additional 18,122 shares during the period. Finally, Jump Financial LLC grew its position in shares of Lovesac by 103.9% during the 4th quarter. Jump Financial LLC now owns 40,381 shares of the company’s stock worth $955,000 after buying an additional 20,581 shares during the period. Institutional investors and hedge funds own 91.32% of the company’s stock.

Lovesac Trading Down 0.5%

NASDAQ LOVE opened at $19.68 on Tuesday. The company has a fifty day simple moving average of $18.47 and a 200 day simple moving average of $23.93. The Lovesac Company has a 12-month low of $12.12 and a 12-month high of $39.49. The company has a market cap of $292.15 million, a P/E ratio of 57.88, a PEG ratio of 0.65 and a beta of 2.48.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings results on Thursday, April 10th. The company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.33. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The business had revenue of $241.50 million during the quarter, compared to the consensus estimate of $230.33 million. During the same quarter last year, the firm posted $1.87 EPS. Lovesac’s revenue was down 3.6% compared to the same quarter last year. Sell-side analysts predict that The Lovesac Company will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LOVE. Oppenheimer reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Lovesac in a research report on Friday, April 11th. Canaccord Genuity Group reduced their price objective on shares of Lovesac from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, April 11th. DA Davidson reduced 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. Finally, Roth Mkm raised their price objective on shares of Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lovesac has a consensus rating of “Buy” and an average target price of $31.67.

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.