BNP Paribas Financial Markets Has $40,000 Holdings in The Lovesac Company (NASDAQ:LOVE)

BNP Paribas Financial Markets reduced its position in The Lovesac Company (NASDAQ:LOVE) by 80.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,689 shares of the company’s stock after selling 7,110 shares during the period. BNP Paribas Financial Markets’ holdings in Lovesac were worth $40,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in Lovesac in the 4th quarter worth about $26,000. AlphaQuest LLC acquired a new position in Lovesac in the 4th quarter worth about $70,000. MetLife Investment Management LLC boosted its stake in shares of Lovesac by 18.3% during the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock worth $218,000 after acquiring an additional 1,425 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Lovesac by 24.8% during the 4th 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. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Lovesac by 13.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,462 shares of the company’s stock worth $272,000 after acquiring an additional 1,333 shares in the last quarter. 91.32% of the stock is owned by institutional investors and hedge funds.

Lovesac Trading Up 4.4%

Shares of LOVE stock opened at $19.55 on Wednesday. The company has a market capitalization of $290.22 million, a P/E ratio of 57.50, a P/E/G ratio of 0.65 and a beta of 2.48. The Lovesac Company has a 12 month low of $12.12 and a 12 month high of $39.49. The stock has a 50 day moving average of $18.90 and a two-hundred day moving average of $23.10.

Lovesac (NASDAQ:LOVE) last posted its earnings results on Thursday, April 10th. The company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.80 by $0.33. The business 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%. Lovesac’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.87 EPS. Sell-side analysts predict that The Lovesac Company will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LOVE. Oppenheimer reiterated an “outperform” rating and set a $35.00 price target on shares of Lovesac in a research note on Friday, April 11th. Roth Mkm upped their price target on Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. DA Davidson decreased their price target on Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Canaccord Genuity Group decreased their target price on Lovesac from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average 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.