The Lovesac (NASDAQ:LOVE) Issues Earnings Results, Beats Estimates By $0.63 EPS

The Lovesac (NASDAQ:LOVE) announced its quarterly earnings data on Wednesday. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.63, MarketWatch Earnings reports. The business had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $90.97 million. The Lovesac had a net margin of 7.20% and a return on equity of 26.07%. The firm’s quarterly revenue was up 65.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) earnings per share.

Shares of NASDAQ:LOVE traded up $4.52 during mid-day trading on Friday, reaching $67.14. 27,196 shares of the company’s stock were exchanged, compared to its average volume of 394,457. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 1.68 and a beta of 2.43. The business’s fifty day moving average price is $60.42 and its 200-day moving average price is $66.41. The Lovesac has a twelve month low of $22.64 and a twelve month high of $95.51.

In other The Lovesac news, insider Satori Capital, Llc sold 7,335 shares of The Lovesac stock in a transaction on Wednesday, June 16th. The shares were sold at an average price of $81.39, for a total value of $596,995.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donna Dellomo sold 3,275 shares of The Lovesac stock in a transaction on Wednesday, June 30th. The shares were sold at an average price of $80.04, for a total transaction of $262,131.00. Following the completion of the sale, the chief financial officer now directly owns 73,002 shares of the company’s stock, valued at $5,843,080.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,825 shares of company stock worth $3,764,500. 16.20% of the stock is owned by company insiders.

A hedge fund recently raised its stake in The Lovesac stock. Royal Bank of Canada lifted its holdings in shares of The Lovesac Company (NASDAQ:LOVE) by 63.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,067 shares of the company’s stock after acquiring an additional 416 shares during the period. Royal Bank of Canada’s holdings in The Lovesac were worth $85,000 at the end of the most recent reporting period. Institutional investors own 86.58% of the company’s stock.

A number of brokerages recently issued reports on LOVE. TheStreet raised shares of The Lovesac from a “d+” rating to a “c” rating in a research note on Monday, June 28th. Canaccord Genuity raised their target price on shares of The Lovesac from $77.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, June 10th. Zacks Investment Research lowered shares of The Lovesac from a “buy” rating to a “hold” rating in a research report on Wednesday, August 11th. Roth Capital restated a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of The Lovesac in a research report on Friday. Finally, Craig Hallum raised their target price on shares of The Lovesac from $85.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, June 10th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $101.63.

About The Lovesac

The Lovesac Co is a technology driven, omni-channel company. It designs, manufactures, and sells furniture comprised of modular couches called sactionals and foam beanbag chairs called sacs. Its products include sactionals, sacs, and accessories. The company was founded by Shawn David Nelson in 1995 and is headquartered in Stamford, CT.

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Earnings History for The Lovesac (NASDAQ:LOVE)

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