The Lovesac Company (NASDAQ:LOVE) COO Albert Jack Krause Sells 6,816 Shares

The Lovesac Company (NASDAQ:LOVE) COO Albert Jack Krause sold 6,816 shares of the firm’s stock in a transaction that occurred on Monday, December 28th. The shares were sold at an average price of $41.65, for a total transaction of $283,886.40. Following the completion of the sale, the chief operating officer now directly owns 118,385 shares in the company, valued at $4,930,735.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of The Lovesac stock opened at $43.09 on Friday. The Lovesac Company has a one year low of $3.99 and a one year high of $46.26. The business’s 50 day simple moving average is $35.61 and its two-hundred day simple moving average is $30.25. The stock has a market capitalization of $632.69 million, a P/E ratio of -331.46 and a beta of 2.52.

The Lovesac (NASDAQ:LOVE) last issued its earnings results on Tuesday, December 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $1.04. The Lovesac had a negative net margin of 0.55% and a negative return on equity of 1.84%. The firm had revenue of $74.70 million for the quarter, compared to analysts’ expectations of $66.14 million. During the same quarter last year, the business earned ($0.46) earnings per share. The business’s revenue was up 43.4% on a year-over-year basis. As a group, sell-side analysts forecast that The Lovesac Company will post 0.04 earnings per share for the current year.

Several analysts have recently weighed in on LOVE shares. Zacks Investment Research upgraded shares of The Lovesac from a “sell” rating to a “hold” rating in a research report on Tuesday, December 15th. BTIG Research lifted their price target on The Lovesac from $44.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, December 10th. Canaccord Genuity upped their price objective on The Lovesac from $35.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, December 9th. Craig Hallum raised their price objective on The Lovesac from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, September 10th. Finally, Oppenheimer began coverage on The Lovesac in a research report on Thursday, December 24th. They issued a “buy” rating and a $40.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $37.11.

Institutional investors have recently made changes to their positions in the business. Strs Ohio raised its stake in shares of The Lovesac by 2,742.9% during the third quarter. Strs Ohio now owns 19,900 shares of the company’s stock valued at $551,000 after acquiring an additional 19,200 shares during the last quarter. Scopus Asset Management L.P. bought a new stake in shares of The Lovesac in the third quarter worth about $6,669,000. Voloridge Investment Management LLC increased its holdings in The Lovesac by 464.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 105,845 shares of the company’s stock valued at $2,933,000 after purchasing an additional 87,094 shares during the period. Zebra Capital Management LLC bought a new position in The Lovesac during the 3rd quarter valued at approximately $337,000. Finally, California State Teachers Retirement System lifted its holdings in The Lovesac by 7.2% in the 3rd quarter. California State Teachers Retirement System now owns 14,839 shares of the company’s stock worth $411,000 after buying an additional 997 shares during the period. 75.19% of the stock is currently owned by institutional investors and hedge funds.

About The Lovesac

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

Further Reading: Fiduciary

Insider Buying and Selling by Quarter for The Lovesac (NASDAQ:LOVE)

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