Ameriprise Financial Inc. Decreases Stock Position in The Lovesac Company (NASDAQ:LOVE)

Ameriprise Financial Inc. reduced its position in The Lovesac Company (NASDAQ:LOVE) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 288,851 shares of the company’s stock after selling 3,261 shares during the period. Ameriprise Financial Inc. owned about 1.87% of Lovesac worth $6,834,000 at the end of the most recent reporting period.

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

Lovesac Price Performance

Shares of LOVE stock opened at $18.97 on Friday. The Lovesac Company has a 1 year low of $12.12 and a 1 year high of $39.49. The firm has a fifty day moving average price of $18.69 and a 200-day moving average price of $23.80. The company has a market cap of $281.61 million, a price-to-earnings ratio of 55.79, a PEG ratio of 0.65 and a beta of 2.48.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings data 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 net margin of 1.04% and a return on equity of 3.51%. The firm had revenue of $241.50 million during the quarter, compared to the consensus estimate of $230.33 million. During the same quarter in the previous year, the firm posted $1.87 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts expect that The Lovesac Company will post 0.39 EPS for the current year.

Analyst Ratings Changes

LOVE has been the subject of a number of research analyst reports. DA Davidson cut their target price 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. Roth Mkm lifted their target price 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. Oppenheimer reissued an “outperform” rating and set a $35.00 price objective on shares of Lovesac in a research report on Friday, April 11th. Finally, Canaccord Genuity Group cut 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Lovesac has an average rating of “Buy” and a consensus price target of $31.67.

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.