Andrew R. Heyer Acquires 3,856 Shares of The Lovesac Company (NASDAQ:LOVE) Stock

The Lovesac Company (NASDAQ:LOVE) Director Andrew R. Heyer purchased 3,856 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were purchased at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the acquisition, the director now directly owns 3,856 shares of the company’s stock, valued at $72,338.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lovesac Stock Performance

Shares of LOVE opened at $20.80 on Friday. The company’s 50 day moving average price is $22.51 and its 200 day moving average price is $21.75. The Lovesac Company has a 52 week low of $14.18 and a 52 week high of $29.81. The company has a market capitalization of $322.19 million, a PE ratio of 14.86, a PEG ratio of 0.45 and a beta of 2.87.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, April 11th. The company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.06). Lovesac had a net margin of 3.39% and a return on equity of 12.19%. The company had revenue of $250.00 million for the quarter, compared to analysts’ expectations of $265.35 million. During the same period in the previous year, the firm posted $1.74 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities analysts forecast that The Lovesac Company will post 1.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LOVE has been the topic of a number of recent analyst reports. Maxim Group initiated coverage on shares of Lovesac in a report on Wednesday. They set a “buy” rating and a $36.00 price target on the stock. Roth Mkm restated a “buy” rating and set a $34.00 price target on shares of Lovesac in a report on Wednesday, April 10th. Finally, Canaccord Genuity Group cut their price target on shares of Lovesac from $44.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, April 12th.

Institutional Trading of Lovesac

Several large investors have recently added to or reduced their stakes in LOVE. JPMorgan Chase & Co. grew its position in Lovesac by 127.2% in the first quarter. JPMorgan Chase & Co. now owns 40,858 shares of the company’s stock worth $2,209,000 after acquiring an additional 22,872 shares in the last quarter. Raymond James & Associates grew its position in Lovesac by 39.6% in the first quarter. Raymond James & Associates now owns 62,068 shares of the company’s stock worth $3,355,000 after acquiring an additional 17,615 shares in the last quarter. Bank of New York Mellon Corp grew its position in Lovesac by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 47,547 shares of the company’s stock worth $2,571,000 after acquiring an additional 418 shares in the last quarter. Bank of Montreal Can bought a new stake in Lovesac in the first quarter worth approximately $1,631,000. Finally, MetLife Investment Management LLC grew its position in Lovesac by 54.2% in the first quarter. MetLife Investment Management LLC now owns 6,964 shares of the company’s stock worth $376,000 after acquiring an additional 2,447 shares in the last quarter. 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.