Virtu Financial LLC Takes Position in The Lovesac Company (NASDAQ:LOVE)

Virtu Financial LLC bought a new stake in The Lovesac Company (NASDAQ:LOVE) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,294 shares of the company’s stock, valued at approximately $340,000. Virtu Financial LLC owned approximately 0.09% of Lovesac as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Halter Ferguson Financial Inc. acquired a new stake in Lovesac during the 4th quarter valued at approximately $5,160,000. Skylands Capital LLC grew its stake in Lovesac by 1.4% during the 4th quarter. Skylands Capital LLC now owns 178,965 shares of the company’s stock valued at $4,573,000 after purchasing an additional 2,525 shares in the last quarter. BCGM Wealth Management LLC grew its stake in Lovesac by 5.6% during the 4th quarter. BCGM Wealth Management LLC now owns 128,691 shares of the company’s stock valued at $3,288,000 after purchasing an additional 6,858 shares in the last quarter. Millrace Asset Group Inc. grew its stake in Lovesac by 73.9% during the 3rd quarter. Millrace Asset Group Inc. now owns 115,704 shares of the company’s stock valued at $2,305,000 after purchasing an additional 49,153 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Lovesac by 56.2% during the 3rd quarter. Wellington Management Group LLP now owns 82,000 shares of the company’s stock valued at $1,633,000 after purchasing an additional 29,500 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

Lovesac Trading Down 4.1 %

Shares of NASDAQ LOVE opened at $23.27 on Thursday. The company has a market cap of $361.85 million, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 0.64 and a beta of 2.86. The Lovesac Company has a 12-month low of $14.18 and a 12-month high of $29.81. The stock’s 50 day simple moving average is $24.57 and its 200 day simple moving average is $24.10.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings results on Thursday, June 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.16. The business had revenue of $132.64 million for the quarter, compared to the consensus estimate of $128.20 million. Lovesac had a return on equity of 7.55% and a net margin of 2.17%. As a group, equities analysts forecast that The Lovesac Company will post 1.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LOVE shares. Roth Mkm restated a “buy” rating and set a $30.00 price objective on shares of Lovesac in a research note on Tuesday, June 11th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $36.00 target price on shares of Lovesac in a report on Friday, June 14th. DA Davidson increased their target price on Lovesac from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Maxim Group increased their target price on Lovesac from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Monday. Finally, Oppenheimer reduced their target price on Lovesac from $60.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $34.20.

Insider Buying and Selling

In other Lovesac news, Director Andrew R. Heyer bought 3,856 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were purchased at an average price of $18.76 per share, with a total value of $72,338.56. Following the purchase, 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 Securities & Exchange Commission, which is accessible through the SEC website. In other Lovesac news, CFO Keith R. Siegner bought 4,800 shares of the business’s stock in a transaction on Friday, April 19th. The shares were purchased at an average price of $20.80 per share, with a total value of $99,840.00. Following the purchase, the chief financial officer now directly owns 4,800 shares of the company’s stock, valued at $99,840. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew R. Heyer bought 3,856 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were acquired at an average cost of $18.76 per share, for a total transaction of $72,338.56. Following the purchase, the director now directly owns 3,856 shares in the company, valued at $72,338.56. The disclosure for this purchase can be found here. Company insiders own 12.33% of the company’s stock.

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.