Lovesac (NASDAQ:LOVE) Now Covered by Maxim Group

Maxim Group initiated coverage on shares of Lovesac (NASDAQ:LOVE) in a report issued on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $36.00 price target on the stock. Maxim Group’s price objective would suggest a potential upside of 76.90% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Roth Mkm restated a “buy” rating and set a $34.00 price objective on shares of Lovesac in a research report on Wednesday, April 10th. Canaccord Genuity Group reduced their price target on Lovesac from $44.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, April 12th.

Lovesac Stock Up 0.8 %

Shares of NASDAQ LOVE opened at $20.35 on Wednesday. Lovesac has a twelve month low of $14.18 and a twelve month high of $29.81. The company has a market cap of $315.22 million, a PE ratio of 14.54, a price-to-earnings-growth ratio of 0.43 and a beta of 2.87. The business’s 50 day moving average price is $22.59 and its two-hundred day moving average price is $21.74.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings data on Thursday, April 11th. The company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.06). Lovesac had a return on equity of 12.19% and a net margin of 3.39%. The company had revenue of $250.00 million for the quarter, compared to analyst estimates of $265.35 million. During the same quarter last year, the business earned $1.74 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. As a group, research analysts anticipate that Lovesac will post 1.3 EPS for the current fiscal year.

Insider Buying and Selling

In other Lovesac news, Director Andrew R. Heyer purchased 3,856 shares of Lovesac stock in a transaction that occurred on Tuesday, April 16th. The stock was acquired at an average price of $18.76 per share, with a total value of $72,338.56. Following the transaction, the director now owns 3,856 shares in the company, valued at approximately $72,338.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Andrew R. Heyer bought 3,856 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were bought at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the completion of the acquisition, the director now directly owns 3,856 shares of the company’s stock, valued at $72,338.56. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Shawn David Nelson sold 6,000 shares of Lovesac stock in a transaction on Friday, March 15th. The stock was sold at an average price of $22.44, for a total transaction of $134,640.00. Following the transaction, the chief executive officer now directly owns 179,970 shares in the company, valued at $4,038,526.80. The disclosure for this sale can be found here. 12.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in shares of Lovesac in the first quarter valued at approximately $12,996,000. Dimensional Fund Advisors LP raised its holdings in Lovesac by 211.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 411,939 shares of the company’s stock valued at $11,904,000 after acquiring an additional 279,545 shares during the period. Millennium Management LLC lifted its position in shares of Lovesac by 748.7% during the second quarter. Millennium Management LLC now owns 296,462 shares of the company’s stock worth $8,153,000 after acquiring an additional 261,529 shares in the last quarter. Wasatch Advisors Inc. boosted its holdings in shares of Lovesac by 29.0% in the first quarter. Wasatch Advisors Inc. now owns 1,014,661 shares of the company’s stock worth $54,853,000 after acquiring an additional 228,148 shares during the period. Finally, Halter Ferguson Financial Inc. purchased a new position in shares of Lovesac in the fourth quarter valued at $5,160,000. 91.32% of the stock is owned by institutional investors.

Lovesac Company Profile

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.