The Lovesac Company (NASDAQ:LOVE) CFO Keith R. Siegner Purchases 4,800 Shares

The Lovesac Company (NASDAQ:LOVE) CFO Keith R. Siegner acquired 4,800 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was purchased at an average cost of $20.80 per share, for a total transaction of $99,840.00. Following the completion of the acquisition, the chief financial officer now directly owns 4,800 shares of the company’s stock, valued at approximately $99,840. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Lovesac Price Performance

NASDAQ LOVE opened at $22.04 on Wednesday. The company has a market cap of $341.40 million, a PE ratio of 15.74, a price-to-earnings-growth ratio of 0.46 and a beta of 2.87. The stock’s 50 day simple moving average is $22.43 and its 200-day simple moving average is $21.83. The Lovesac Company has a 1-year low of $14.18 and a 1-year high of $29.81.

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

Hedge Funds Weigh In On Lovesac

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Byrne Asset Management LLC lifted its position in shares of Lovesac by 515.4% in the first quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock valued at $72,000 after acquiring an additional 2,680 shares in the last quarter. Virtu Financial LLC purchased a new position in Lovesac during the fourth quarter worth approximately $340,000. CastleKnight Management LP lifted its position in Lovesac by 251.3% during the fourth quarter. CastleKnight Management LP now owns 40,400 shares of the company’s stock worth $1,032,000 after buying an additional 28,900 shares in the last quarter. Premier Fund Managers Ltd purchased a new position in Lovesac during the fourth quarter worth approximately $350,000. Finally, Halter Ferguson Financial Inc. purchased a new position in Lovesac during the fourth quarter worth approximately $5,160,000. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LOVE. Maxim Group began coverage on Lovesac in a report on Wednesday, April 17th. They issued a “buy” rating and a $36.00 price objective on the stock. Roth Mkm reissued a “buy” rating and issued a $34.00 price objective on shares of Lovesac in a report on Wednesday, April 10th. Finally, Canaccord Genuity Group cut their price objective on Lovesac from $44.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, April 12th.

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.