BCGM Wealth Management LLC Raises Position in The Lovesac Company $LOVE

BCGM Wealth Management LLC boosted its holdings in shares of The Lovesac Company (NASDAQ:LOVE) by 77.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 241,532 shares of the company’s stock after buying an additional 105,349 shares during the period. BCGM Wealth Management LLC owned approximately 1.65% of Lovesac worth $3,563,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in shares of Lovesac by 130.4% in the second quarter. BNP Paribas Financial Markets now owns 1,938 shares of the company’s stock worth $35,000 after purchasing an additional 1,097 shares during the last quarter. Meeder Asset Management Inc. lifted its position in Lovesac by 147.9% during the third quarter. Meeder Asset Management Inc. now owns 5,357 shares of the company’s stock valued at $91,000 after purchasing an additional 3,196 shares during the last quarter. Ancora Advisors LLC bought a new stake in Lovesac during the third quarter valued at approximately $146,000. Blueshift Asset Management LLC purchased a new position in Lovesac in the 2nd quarter worth approximately $195,000. Finally, Numerai GP LLC grew its stake in Lovesac by 10.7% in the 3rd quarter. Numerai GP LLC now owns 11,805 shares of the company’s stock worth $200,000 after buying an additional 1,145 shares in the last quarter. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Lovesac Trading Down 1.6%

Shares of NASDAQ LOVE opened at $10.54 on Friday. The Lovesac Company has a 12-month low of $10.37 and a 12-month high of $21.90. The firm has a market capitalization of $154.06 million, a price-to-earnings ratio of 45.83, a price-to-earnings-growth ratio of 0.35 and a beta of 2.35. The firm has a 50 day moving average of $13.13 and a 200 day moving average of $14.44.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LOVE shares. Maxim Group set a $26.00 price objective on shares of Lovesac in a report on Friday, December 12th. Wall Street Zen downgraded Lovesac from a “hold” rating to a “strong sell” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lovesac in a research note on Monday, December 29th. DA Davidson cut their price objective on Lovesac from $24.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Finally, Canaccord Genuity Group reduced their price objective on Lovesac from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.20.

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.