Meeder Asset Management Inc. Makes New Investment in The Lovesac Company (NASDAQ:LOVE)

Meeder Asset Management Inc. purchased a new position in The Lovesac Company (NASDAQ:LOVE) during the 2nd quarter, HoldingsChannel reports. The firm purchased 384 shares of the company’s stock, valued at approximately $31,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in shares of The Lovesac during the first quarter valued at approximately $25,000. Acadian Asset Management LLC bought a new stake in shares of The Lovesac during the first quarter valued at approximately $25,000. Royal Bank of Canada increased its position in shares of The Lovesac by 97.9% during the first quarter. Royal Bank of Canada now owns 651 shares of the company’s stock valued at $37,000 after purchasing an additional 322 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of The Lovesac by 217.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 796 shares of the company’s stock valued at $64,000 after purchasing an additional 545 shares during the period. Finally, Captrust Financial Advisors increased its position in shares of The Lovesac by 37.4% during the first quarter. Captrust Financial Advisors now owns 892 shares of the company’s stock valued at $50,000 after purchasing an additional 243 shares during the period. 86.58% of the stock is currently owned by institutional investors.

In related news, insider Satori Capital, Llc sold 15,710 shares of the company’s stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $70.00, for a total value of $1,099,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Albert Jack Krause sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 14th. The shares were sold at an average price of $63.70, for a total value of $1,592,500.00. Following the completion of the sale, the chief operating officer now owns 107,828 shares of the company’s stock, valued at approximately $6,868,643.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,200 shares of company stock valued at $4,267,204. 16.20% of the stock is currently owned by corporate insiders.

Several analysts recently commented on the company. Craig Hallum boosted their price target on The Lovesac from $85.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, June 10th. Roth Capital boosted their price target on The Lovesac from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, September 10th. DA Davidson boosted their price target on The Lovesac from $85.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, June 10th. Zacks Investment Research lowered The Lovesac from a “hold” rating to a “sell” rating in a research note on Saturday, September 11th. Finally, Stifel Nicolaus boosted their price target on The Lovesac from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, June 10th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, The Lovesac currently has a consensus rating of “Buy” and a consensus price target of $101.63.

The Lovesac stock opened at $67.44 on Friday. The firm has a market cap of $1.02 billion, a P/E ratio of 30.94, a P/E/G ratio of 2.57 and a beta of 2.43. The business’s fifty day moving average is $59.88 and its two-hundred day moving average is $66.67. The Lovesac Company has a 52 week low of $22.64 and a 52 week high of $95.51.

The Lovesac (NASDAQ:LOVE) last released its earnings results on Wednesday, September 8th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.63. The company had revenue of $102.40 million during the quarter, compared to the consensus estimate of $90.97 million. The Lovesac had a return on equity of 34.25% and a net margin of 8.90%. The firm’s quarterly revenue was up 65.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.08) earnings per share. As a group, equities analysts forecast that The Lovesac Company will post 0.75 EPS for the current year.

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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Institutional Ownership by Quarter for The Lovesac (NASDAQ:LOVE)

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