Lovesac (NASDAQ:LOVE) Coverage Initiated at Maxim Group

Maxim Group began coverage on shares of Lovesac (NASDAQ:LOVE) in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $36.00 price target on the stock. Maxim Group’s target price would indicate a potential upside of 76.90% from the company’s current price.

LOVE has been the subject of a number of other reports. Roth Mkm restated a “buy” rating and set a $34.00 price objective on shares of Lovesac in a research note on Wednesday, April 10th. Canaccord Genuity Group decreased their price target on shares of Lovesac from $44.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, April 12th.

Lovesac Trading Up 0.8 %

Shares of LOVE opened at $20.35 on Wednesday. The firm has a market capitalization of $315.22 million, a P/E ratio of 14.54, a P/E/G ratio of 0.43 and a beta of 2.87. Lovesac has a 12-month low of $14.18 and a 12-month high of $29.81. The firm has a fifty day moving average price of $22.59 and a 200-day moving average price of $21.74.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, April 11th. The company reported $1.87 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.06). Lovesac had a return on equity of 12.19% and a net margin of 3.39%. The firm had revenue of $250.00 million for the quarter, compared to analysts’ expectations of $265.35 million. During the same quarter in the previous year, the business earned $1.74 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts predict that Lovesac will post 1.3 earnings per share for the current year.

Insider Transactions at Lovesac

In related news, CEO Shawn David Nelson sold 6,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.44, for a total transaction of $134,640.00. Following the sale, the chief executive officer now owns 179,970 shares in the company, valued at $4,038,526.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Shawn David Nelson sold 6,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $22.44, for a total transaction of $134,640.00. Following the transaction, the chief executive officer now owns 179,970 shares in the company, valued at approximately $4,038,526.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew R. Heyer acquired 3,856 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were bought at an average cost of $18.76 per share, for a total transaction of $72,338.56. Following the completion of the acquisition, the director now owns 3,856 shares of the company’s stock, valued at $72,338.56. The disclosure for this purchase can be found here. Company insiders own 12.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Lovesac by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 829,792 shares of the company’s stock worth $21,201,000 after acquiring an additional 20,300 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Lovesac during the 4th quarter worth about $340,000. Price T Rowe Associates Inc. MD purchased a new stake in Lovesac in the 4th quarter valued at about $228,000. Barclays PLC raised its holdings in Lovesac by 264.3% in the 4th quarter. Barclays PLC now owns 22,626 shares of the company’s stock valued at $578,000 after buying an additional 16,416 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in Lovesac by 120.6% in the fourth quarter. Nuveen Asset Management LLC now owns 207,912 shares of the company’s stock valued at $5,312,000 after buying an additional 113,676 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

About Lovesac

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.