The Lovesac Company (NASDAQ:LOVE) Director Buys $98,720.00 in Stock

The Lovesac Company (NASDAQ:LOVE) Director Walter Field Mclallen purchased 4,000 shares of the company’s stock in a transaction that occurred 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 trade represents a 20.47 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

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 stock was acquired at an average price of $23.80 per share, for a total transaction of $23,800.00.

Lovesac Stock Up 4.2 %

Shares of LOVE opened at $24.88 on Thursday. The company has a 50 day moving average of $31.35 and a two-hundred day moving average of $27.14. The company has a market cap of $383.97 million, a price-to-earnings ratio of 73.18, a price-to-earnings-growth ratio of 1.49 and a beta of 2.97. The Lovesac Company has a twelve month low of $18.21 and a twelve month high of $39.49.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings data 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. Lovesac had a return on equity of 3.46% and a net margin of 1.04%. The firm had revenue of $149.90 million during the quarter, compared to analysts’ expectations of $155.26 million. During the same quarter last year, the firm earned ($0.15) EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts expect that The Lovesac Company will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Lovesac

Several hedge funds have recently modified their holdings of LOVE. Jane Street Group LLC increased its stake in Lovesac by 74.4% during the 3rd quarter. Jane Street Group LLC now owns 80,776 shares of the company’s stock valued at $2,314,000 after purchasing an additional 34,451 shares in the last quarter. Millrace Asset Group Inc. grew its holdings in shares of Lovesac by 63.0% during the third quarter. Millrace Asset Group Inc. now owns 68,503 shares of the company’s stock valued at $1,963,000 after buying an additional 26,481 shares during the last quarter. Dimensional Fund Advisors LP grew 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 valued at $17,951,000 after buying an additional 26,872 shares during the last quarter. Anson Funds Management LP increased its position in shares of Lovesac by 13.9% in the 3rd quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock valued at $23,332,000 after acquiring an additional 99,651 shares during the period. Finally, Hood River Capital Management LLC raised its stake in Lovesac by 8.8% in the 2nd quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock worth $17,477,000 after acquiring an additional 62,615 shares during the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

Analysts Set New Price Targets

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

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.