Lovesac’s (LOVE) Buy Rating Reaffirmed at Roth Mkm

Roth Mkm restated their buy rating on shares of Lovesac (NASDAQ:LOVE) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $30.00 price target on the stock.

LOVE has been the subject of a number of other reports. DA Davidson raised their target price on Lovesac from $24.00 to $32.00 and gave the stock a buy rating in a research note on Friday, June 14th. Oppenheimer reduced their target price on shares of Lovesac from $60.00 to $35.00 and set an outperform rating on the stock in a research note on Wednesday, May 1st. Canaccord Genuity Group reiterated a buy rating and issued a $36.00 target price on shares of Lovesac in a report on Friday, June 14th. Finally, Maxim Group lifted their price target on shares of Lovesac from $36.00 to $38.00 and gave the company a buy rating in a research report on Monday, June 17th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $34.20.

Lovesac Stock Up 1.3 %

Shares of NASDAQ LOVE opened at $22.27 on Wednesday. The firm has a 50-day simple moving average of $24.88 and a 200-day simple moving average of $23.89. The stock has a market capitalization of $346.30 million, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 0.59 and a beta of 2.94. Lovesac has a 52 week low of $14.18 and a 52 week high of $29.81.

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

Insiders Place Their Bets

In related news, Director Andrew R. Heyer acquired 3,856 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were purchased at an average cost of $18.76 per share, for a total transaction of $72,338.56. Following the acquisition, the director now owns 3,856 shares in the company, valued at approximately $72,338.56. The purchase was disclosed in a document filed 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 stock was sold at an average price of $23.33, for a total value of $442,990.04. Following the completion of the transaction, the chief executive officer now directly owns 165,855 shares of the company’s stock, valued at approximately $3,869,397.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Andrew R. Heyer purchased 3,856 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were acquired at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the completion of the purchase, the director now directly owns 3,856 shares of the company’s stock, valued at $72,338.56. The disclosure for this purchase can be found here. 12.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. EntryPoint Capital LLC purchased a new position in Lovesac in the 1st quarter valued at approximately $39,000. Byrne Asset Management LLC boosted its holdings in Lovesac by 515.4% in the first quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock valued at $72,000 after purchasing an additional 2,680 shares during the period. SG Americas Securities LLC acquired a new position in Lovesac during the 4th quarter worth $116,000. Price T Rowe Associates Inc. MD increased its holdings in Lovesac by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock worth $218,000 after purchasing an additional 726 shares during the period. Finally, Grandeur Peak Global Advisors LLC purchased a new position in shares of Lovesac in the 1st quarter valued at about $247,000. Institutional investors and hedge funds own 91.32% of the company’s stock.

About Lovesac

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.