Man Group plc Takes $327,000 Position in The Lovesac Company (NASDAQ:LOVE)

Man Group plc purchased a new stake in The Lovesac Company (NASDAQ:LOVE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,831 shares of the company’s stock, valued at approximately $327,000. Man Group plc owned about 0.09% of Lovesac as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Millennium Management LLC lifted its stake in shares of Lovesac by 16.4% in the 4th quarter. Millennium Management LLC now owns 67,967 shares of the company’s stock valued at $1,608,000 after acquiring an additional 9,553 shares during the last quarter. Ensign Peak Advisors Inc acquired a new stake in Lovesac in the fourth quarter valued at $279,000. Deutsche Bank AG increased its holdings in Lovesac by 64.5% in the fourth quarter. Deutsche Bank AG now owns 81,843 shares of the company’s stock valued at $1,936,000 after purchasing an additional 32,102 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Lovesac in the fourth quarter valued at $49,000. Finally, Bridgeway Capital Management LLC increased its holdings in Lovesac by 3.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 82,725 shares of the company’s stock valued at $1,957,000 after purchasing an additional 2,441 shares during the period. 91.32% of the stock is currently owned by institutional investors.

Lovesac Trading Down 2.8%

Shares of Lovesac stock opened at $18.44 on Tuesday. The business has a 50-day moving average price of $18.75 and a two-hundred day moving average price of $23.55. The Lovesac Company has a 1-year low of $12.12 and a 1-year high of $39.49. The company has a market cap of $273.74 million, a P/E ratio of 54.24, a PEG ratio of 0.65 and a beta of 2.48.

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

Analysts Set New Price Targets

LOVE has been the subject of a number of recent research reports. DA Davidson decreased their price objective on Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a report on Friday, April 11th. Canaccord Genuity Group decreased their price objective on Lovesac from $45.00 to $30.00 and set a “buy” rating for the company in a report on Friday, April 11th. Roth Mkm increased their price target on Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Finally, Oppenheimer reiterated an “outperform” rating and set a $35.00 price target on shares of Lovesac in a report on Friday, April 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac currently has an average rating of “Buy” and an average target price of $31.67.

Lovesac 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.