Investment Analysts’ Recent Ratings Updates for Lovesac (LOVE)

Lovesac (NASDAQ: LOVE) has recently received a number of price target changes and ratings updates:

• 6/17/2024 – Lovesac had its price target raised by analysts at Maxim Group from $36.00 to $38.00. They now have a “buy” rating on the stock.
• 6/14/2024 – Lovesac had its price target raised by analysts at DA Davidson from $24.00 to $32.00. They now have a “buy” rating on the stock.
• 6/14/2024 – Lovesac had its “buy” rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $36.00 price target on the stock.
• 6/11/2024 – Lovesac had its “buy” rating reaffirmed by analysts at Roth Mkm. They now have a $30.00 price target on the stock.
• 5/1/2024 – Lovesac had its price target lowered by analysts at Oppenheimer Holdings Inc. from $60.00 to $35.00. They now have an “outperform” rating on the stock.

Lovesac Price Performance

Shares of NASDAQ LOVE opened at $21.50 on Wednesday. The stock has a market capitalization of $334.33 million, a P/E ratio of 25.29, a P/E/G ratio of 0.57 and a beta of 2.86. The company has a 50-day moving average price of $24.80 and a 200-day moving average price of $24.08. The Lovesac Company has a 1 year low of $14.18 and a 1 year high of $29.81.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings data on Thursday, June 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.16. Lovesac had a net margin of 2.17% and a return on equity of 7.55%. The firm had revenue of $132.64 million during the quarter, compared to analysts’ expectations of $128.20 million. As a group, equities research analysts anticipate that The Lovesac Company will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Shawn David Nelson sold 18,988 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $23.33, for a total transaction of $442,990.04. Following the transaction, the chief executive officer now directly owns 165,855 shares in the company, valued at $3,869,397.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Lovesac news, CEO Shawn David Nelson sold 18,988 shares of Lovesac stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $23.33, for a total value of $442,990.04. Following the sale, the chief executive officer now owns 165,855 shares of the company’s stock, valued at $3,869,397.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Keith R. Siegner acquired 4,800 shares of the stock in a transaction on Friday, April 19th. The stock was bought at an average cost of $20.80 per share, for a total transaction of $99,840.00. Following the transaction, the chief financial officer now owns 4,800 shares of the company’s stock, valued at approximately $99,840. The disclosure for this purchase can be found here. 12.33% of the stock is owned by corporate insiders.

Institutional Trading of Lovesac

Several hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of Lovesac by 15.2% in the third quarter. Barclays PLC now owns 6,210 shares of the company’s stock valued at $124,000 after purchasing an additional 818 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Lovesac in the third quarter valued at approximately $1,189,000. Graham Capital Management L.P. bought a new stake in shares of Lovesac in the third quarter valued at approximately $255,000. Wellington Management Group LLP raised its position in shares of Lovesac by 56.2% in the third 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 during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Lovesac in the fourth quarter valued at approximately $116,000. Institutional investors own 91.32% of the company’s stock.

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.