Lovesac (NASDAQ:LOVE) CEO Shawn David Nelson Buys 1,477 Shares of Stock

The Lovesac Company (NASDAQ:LOVE) CEO Shawn David Nelson acquired 1,477 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were bought at an average price of $16.95 per share, for a total transaction of $25,035.15. Following the acquisition, the chief executive officer directly owned 202,681 shares of the company’s stock, valued at approximately $3,435,442.95. This trade represents a 0.73% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Lovesac Stock Down 0.8%

NASDAQ LOVE opened at $17.51 on Tuesday. The company has a market cap of $256.00 million, a price-to-earnings ratio of 60.38, a P/E/G ratio of 0.85 and a beta of 2.21. The Lovesac Company has a 52 week low of $10.33 and a 52 week high of $21.90. The business has a 50 day moving average price of $13.33 and a 200-day moving average price of $13.90.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, March 26th. The company reported $2.19 EPS for the quarter, beating the consensus estimate of $2.00 by $0.19. The firm had revenue of $248.05 million during the quarter, compared to the consensus estimate of $242.77 million. Lovesac had a return on equity of 2.02% and a net margin of 0.58%.The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.13 earnings per share. On average, equities research analysts anticipate that The Lovesac Company will post 0.59 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LOVE. Weiss Ratings reiterated a “sell (d)” rating on shares of Lovesac in a report on Friday, March 27th. Wall Street Zen raised shares of Lovesac from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Roth Mkm reaffirmed a “buy” rating on shares of Lovesac in a research report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lovesac currently has an average rating of “Moderate Buy” and an average target price of $22.67.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Corient Private Wealth LLC lifted its holdings in shares of Lovesac by 139.5% in the fourth quarter. Corient Private Wealth LLC now owns 279,087 shares of the company’s stock valued at $4,117,000 after purchasing an additional 162,580 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Lovesac by 32.3% in the fourth quarter. Invesco Ltd. now owns 73,880 shares of the company’s stock valued at $1,090,000 after purchasing an additional 18,027 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Lovesac by 10.8% in the fourth quarter. Empowered Funds LLC now owns 76,547 shares of the company’s stock valued at $1,129,000 after purchasing an additional 7,483 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Lovesac in the fourth quarter valued at about $149,000. Finally, Millennium Management LLC raised its holdings in shares of Lovesac by 378.9% in the fourth quarter. Millennium Management LLC now owns 327,477 shares of the company’s stock valued at $4,830,000 after purchasing an additional 259,097 shares during the last quarter. Institutional investors own 91.32% of the company’s stock.

About Lovesac

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.