Lovesac Sees Unusually High Options Volume (NASDAQ:LOVE)

The Lovesac Company (NASDAQ:LOVE) saw unusually large options trading on Monday. Investors purchased 3,147 call options on the company. This represents an increase of approximately 485% compared to the average volume of 538 call options.

Lovesac Trading Up 3.8%

Shares of NASDAQ LOVE opened at $14.04 on Tuesday. The company has a market capitalization of $205.26 million, a P/E ratio of 48.42, a P/E/G ratio of 0.88 and a beta of 2.35. Lovesac has a 12 month low of $10.33 and a 12 month high of $21.90. The stock has a 50 day moving average of $12.75 and a 200-day moving average of $14.09.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings results on Thursday, March 26th. The company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.19. Lovesac had a return on equity of 2.07% and a net margin of 0.58%.The business had revenue of $248.05 million for the quarter, compared to analysts’ expectations of $242.77 million. During the same quarter in the prior year, the business earned $2.13 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts predict that Lovesac will post 0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Lovesac

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in shares of Lovesac by 130.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,938 shares of the company’s stock worth $35,000 after buying an additional 1,097 shares during the period. Meeder Asset Management Inc. grew its stake in Lovesac by 147.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 5,357 shares of the company’s stock valued at $91,000 after buying an additional 3,196 shares during the last quarter. Ancora Advisors LLC bought a new position in Lovesac in the 3rd quarter valued at about $146,000. XTX Topco Ltd bought a new position in Lovesac in the 4th quarter valued at about $149,000. Finally, PFG Investments LLC acquired a new stake in Lovesac during the fourth quarter worth approximately $156,000. 91.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. DA Davidson decreased their target price on shares of Lovesac from $24.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Canaccord Genuity Group dropped their price target on shares of Lovesac from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. Maxim Group set a $26.00 price target on shares of Lovesac in a research note on Friday, December 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Lovesac in a research report on Friday. Finally, Wall Street Zen lowered shares of Lovesac from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 13th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Lovesac currently has a consensus rating of “Moderate Buy” and an average target price of $26.20.

Lovesac Company Profile

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.