Lovesac (NASDAQ:LOVE) Trading 5.5% Higher

Shares of Lovesac Co (NASDAQ:LOVE) traded up 5.5% on Tuesday . The stock traded as high as $19.16 and last traded at $18.76, 216,085 shares traded hands during trading. An increase of 35% from the average session volume of 159,923 shares. The stock had previously closed at $17.78.

Several research analysts have weighed in on the company. Roth Capital increased their price objective on Lovesac from $28.00 to $33.00 in a research report on Wednesday, April 24th. Craig Hallum reiterated a “buy” rating and set a $45.00 price objective (up previously from $33.00) on shares of Lovesac in a research report on Wednesday, May 1st. Stifel Nicolaus assumed coverage on Lovesac in a research report on Friday, June 21st. They set a “buy” rating and a $38.00 price objective on the stock. Oppenheimer assumed coverage on Lovesac in a research report on Thursday, August 8th. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, Canaccord Genuity set a $49.00 price objective on Lovesac and gave the stock a “buy” rating in a research report on Wednesday, June 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $40.14.

The firm has a fifty day moving average price of $22.86 and a 200-day moving average price of $29.84.



Lovesac (NASDAQ:LOVE) last released its earnings results on Monday, June 10th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.11). The company had revenue of $40.96 million for the quarter, compared to analyst estimates of $40.66 million. Lovesac had a negative return on equity of 8.59% and a negative net margin of 5.62%. Lovesac’s quarterly revenue was up 53.0% on a year-over-year basis. On average, equities research analysts anticipate that Lovesac Co will post -0.7 EPS for the current year.

In other news, Director Satori Capital, Llc sold 550,000 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $34.38, for a total transaction of $18,909,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Sac Acquisition Llc sold 1,457,255 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $34.38, for a total value of $50,100,426.90. The disclosure for this sale can be found here. Corporate insiders own 54.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Glen Harbor Capital Management LLC acquired a new stake in Lovesac in the second quarter valued at about $29,000. Elkfork Partners LLC acquired a new stake in Lovesac in the second quarter valued at about $35,000. BNP Paribas Arbitrage SA boosted its stake in Lovesac by 1,264.4% in the first quarter. BNP Paribas Arbitrage SA now owns 1,187 shares of the company’s stock valued at $33,000 after buying an additional 1,100 shares in the last quarter. Morgan Stanley boosted its stake in Lovesac by 196.3% in the second quarter. Morgan Stanley now owns 2,948 shares of the company’s stock valued at $92,000 after buying an additional 1,953 shares in the last quarter. Finally, FNY Investment Advisers LLC boosted its stake in Lovesac by 13.4% in the second quarter. FNY Investment Advisers LLC now owns 4,094 shares of the company’s stock valued at $127,000 after buying an additional 484 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Lovesac Company Profile (NASDAQ:LOVE)

The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans.

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