Keith R. Siegner Buys 4,800 Shares of The Lovesac Company (NASDAQ:LOVE) Stock

The Lovesac Company (NASDAQ:LOVE) CFO Keith R. Siegner bought 4,800 shares of the business’s stock in a transaction on Friday, April 19th. The stock was acquired at an average cost of $20.80 per share, for a total transaction of $99,840.00. Following the acquisition, the chief financial officer now directly owns 4,800 shares of the company’s stock, valued at $99,840. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Lovesac Stock Up 1.8 %

Shares of LOVE stock opened at $22.43 on Thursday. The company has a market capitalization of $347.44 million, a price-to-earnings ratio of 16.02, a P/E/G ratio of 0.48 and a beta of 2.87. The firm has a fifty day moving average of $22.37 and a 200-day moving average of $21.87. The Lovesac Company has a 12-month low of $14.18 and a 12-month high of $29.81.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LOVE shares. Canaccord Genuity Group decreased their price objective on Lovesac from $44.00 to $36.00 and set a “buy” rating for the company in a report on Friday, April 12th. Roth Mkm restated a “buy” rating and set a $34.00 price target on shares of Lovesac in a research note on Wednesday, April 10th. Finally, Maxim Group initiated coverage on shares of Lovesac in a research report on Wednesday, April 17th. They set a “buy” rating and a $36.00 target price on the stock.

Institutional Investors Weigh In On Lovesac

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mitchell Mcleod Pugh & Williams Inc. acquired a new position in Lovesac during the third quarter valued at approximately $199,000. Raymond James & Associates raised its position in Lovesac by 23.2% during the third quarter. Raymond James & Associates now owns 83,901 shares of the company’s stock worth $1,671,000 after acquiring an additional 15,820 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Lovesac by 13.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 403,945 shares of the company’s stock valued at $8,047,000 after acquiring an additional 49,096 shares during the period. Skylands Capital LLC increased its stake in shares of Lovesac by 1.1% during the 3rd quarter. Skylands Capital LLC now owns 176,440 shares of the company’s stock worth $3,515,000 after purchasing an additional 1,925 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of Lovesac by 14.8% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 323,254 shares of the company’s stock valued at $6,439,000 after purchasing an additional 41,555 shares during the period. 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.