The Lovesac Company (NASDAQ:LOVE) Director Walter Field Mclallen Purchases 4,000 Shares

The Lovesac Company (NASDAQ:LOVE) Director Walter Field Mclallen purchased 4,000 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $24.68 per share, with a total value of $98,720.00. Following the completion of the purchase, the director now owns 23,540 shares in the company, valued at $580,967.20. This represents a 20.47 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Walter Field Mclallen also recently made the following trade(s):

• On Monday, December 23rd, Walter Field Mclallen bought 1,000 shares of Lovesac stock. The shares were purchased at an average cost of $23.80 per share, with a total value of $23,800.00.

Lovesac Stock Down 0.2 %

Shares of Lovesac stock traded down $0.05 during trading on Monday, hitting $23.88. The stock had a trading volume of 252,578 shares, compared to its average volume of 309,785. The company has a market capitalization of $368.54 million, a PE ratio of 46.82, a P/E/G ratio of 0.99 and a beta of 2.97. The Lovesac Company has a 1 year low of $18.21 and a 1 year high of $39.49. The stock has a 50 day simple moving average of $31.56 and a 200 day simple moving average of $27.19.

Lovesac (NASDAQ:LOVE) last announced its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.02. The company had revenue of $149.90 million for the quarter, compared to the consensus estimate of $155.26 million. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. The company’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.15) EPS. As a group, equities analysts expect that The Lovesac Company will post 1.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on LOVE. Canaccord Genuity Group upped their price target on shares of Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Craig Hallum raised their target price on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Roth Mkm upped their price target on Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, DA Davidson reduced their price objective on Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $38.33.

Institutional Trading of Lovesac

Institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. acquired a new stake in shares of Lovesac during the 2nd quarter valued at $43,000. SG Americas Securities LLC acquired a new stake in Lovesac during the third quarter valued at $170,000. Franklin Resources Inc. purchased a new position in Lovesac in the third quarter valued at about $231,000. Valeo Financial Advisors LLC purchased a new stake in shares of Lovesac during the 3rd quarter worth about $242,000. Finally, Quest Partners LLC lifted its holdings in shares of Lovesac by 797.6% during the 2nd quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after buying an additional 7,617 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

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.