The Lovesac Company (NASDAQ:LOVE) Director Sells $789,900.00 in Stock

The Lovesac Company (NASDAQ:LOVE) Director Albert Jack Krause sold 30,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $26.33, for a total transaction of $789,900.00. Following the transaction, the director now owns 147,849 shares in the company, valued at approximately $3,892,864.17. The trade was a 16.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Lovesac Stock Performance

Shares of LOVE opened at $25.80 on Friday. The firm’s 50-day simple moving average is $29.45 and its 200 day simple moving average is $27.43. The firm has a market cap of $398.09 million, a P/E ratio of 75.88, a price-to-earnings-growth ratio of 1.92 and a beta of 3.04. The Lovesac Company has a 52 week low of $18.21 and a 52 week high of $39.49.

Lovesac (NASDAQ:LOVE) last announced its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. The company had revenue of $149.90 million for the quarter, compared to analyst estimates of $155.26 million. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.15) earnings per share. As a group, equities analysts forecast that The Lovesac Company will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

LOVE has been the subject of a number of analyst reports. DA Davidson decreased their price objective on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Canaccord Genuity Group boosted their price target on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Roth Mkm upped their price objective on Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lovesac has an average rating of “Buy” and a consensus price target of $38.33.

Institutional Investors Weigh In On Lovesac

Hedge funds and other institutional investors have recently modified their holdings of the company. Senvest Management LLC increased its position in Lovesac by 47.3% during the third quarter. Senvest Management LLC now owns 943,022 shares of the company’s stock worth $27,018,000 after acquiring an additional 302,643 shares during the period. Anson Funds Management LP grew its position in shares of Lovesac by 13.9% during the 3rd quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock worth $23,332,000 after purchasing an additional 99,651 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Lovesac by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock worth $17,951,000 after purchasing an additional 26,872 shares during the period. Geode Capital Management LLC raised its position in shares of Lovesac by 1.2% in the third quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock valued at $9,634,000 after buying an additional 3,979 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Lovesac by 1.7% in the third quarter. State Street Corp now owns 299,081 shares of the company’s stock valued at $8,569,000 after buying an additional 5,124 shares during the period. Institutional investors and hedge funds own 91.32% of the company’s stock.

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.