Shawn David Nelson Acquires 1,477 Shares of Lovesac (NASDAQ:LOVE) Stock

The Lovesac Company (NASDAQ:LOVE) CEO Shawn David Nelson acquired 1,477 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was acquired at an average price of $16.95 per share, for a total transaction of $25,035.15. Following the acquisition, the chief executive officer owned 202,681 shares of the company’s stock, valued at approximately $3,435,442.95. This trade represents a 0.73% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lovesac Stock Performance

Shares of LOVE opened at $16.99 on Wednesday. The stock has a market cap of $248.39 million, a PE ratio of 58.59, a price-to-earnings-growth ratio of 0.85 and a beta of 2.21. The Lovesac Company has a fifty-two week low of $10.33 and a fifty-two week high of $21.90. The firm’s 50-day simple moving average is $13.40 and its two-hundred day simple moving average is $13.90.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, March 26th. The company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.19. The business had revenue of $248.05 million for the quarter, compared to analysts’ expectations of $242.77 million. Lovesac had a net margin of 0.58% and a return on equity of 2.02%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.13 earnings per share. Equities research analysts predict that The Lovesac Company will post 0.59 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Lovesac in a report on Friday, March 27th. Roth Mkm reiterated a “buy” rating on shares of Lovesac in a report on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Lovesac from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.67.

Institutional Investors Weigh In On Lovesac

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in Lovesac by 130.4% during the second quarter. BNP Paribas Financial Markets now owns 1,938 shares of the company’s stock valued at $35,000 after purchasing an additional 1,097 shares during the period. Numerai GP LLC lifted its position in Lovesac by 10.7% during the third quarter. Numerai GP LLC now owns 11,805 shares of the company’s stock valued at $200,000 after purchasing an additional 1,145 shares during the period. Barclays PLC lifted its position in Lovesac by 7.5% during the fourth quarter. Barclays PLC now owns 28,576 shares of the company’s stock valued at $421,000 after purchasing an additional 1,999 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Lovesac by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,186 shares of the company’s stock valued at $607,000 after purchasing an additional 2,165 shares during the period. Finally, MML Investors Services LLC lifted its position in Lovesac by 1.0% during the second quarter. MML Investors Services LLC now owns 218,845 shares of the company’s stock valued at $3,983,000 after purchasing an additional 2,203 shares during the period. Hedge funds and other institutional investors own 91.32% of the company’s stock.

About Lovesac

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.