1,923 Shares in The Lovesac Company (NASDAQ:LOVE) Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. bought a new position in shares of The Lovesac Company (NASDAQ:LOVE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,923 shares of the company’s stock, valued at approximately $43,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. EntryPoint Capital LLC acquired a new position in Lovesac during the first quarter worth $39,000. Quest Partners LLC raised its holdings in Lovesac by 797.6% during the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock worth $194,000 after buying an additional 7,617 shares during the last quarter. SG Americas Securities LLC raised its holdings in Lovesac by 106.1% during the first quarter. SG Americas Securities LLC now owns 9,376 shares of the company’s stock worth $212,000 after buying an additional 4,826 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Lovesac by 8.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock worth $218,000 after buying an additional 726 shares during the last quarter. Finally, Grandeur Peak Global Advisors LLC acquired a new position in Lovesac during the first quarter worth $247,000. 91.32% of the stock is owned by institutional investors.

Lovesac Stock Performance

NASDAQ LOVE opened at $26.25 on Monday. The Lovesac Company has a 52-week low of $14.18 and a 52-week high of $30.39. The company has a 50-day simple moving average of $24.70 and a 200 day simple moving average of $23.98. The company has a market capitalization of $408.21 million, a PE ratio of 30.88, a price-to-earnings-growth ratio of 0.55 and a beta of 2.90.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings data on Thursday, June 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping 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 business had revenue of $132.64 million during the quarter, compared to the consensus estimate of $128.20 million. As a group, analysts forecast that The Lovesac Company will post 1.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on LOVE. Roth Mkm upped their price objective on shares of Lovesac from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday. Canaccord Genuity Group reiterated a “buy” rating and issued a $36.00 target price on shares of Lovesac in a report on Friday. Maxim Group increased their target price on shares of Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a report on Monday, June 17th. Craig Hallum increased their target price on shares of Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday. Finally, DA Davidson increased their target price on shares of Lovesac from $24.00 to $32.00 and gave the company a “buy” rating in a report on Friday, June 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac has an average rating of “Buy” and a consensus price target of $34.50.

Insider Buying and Selling

In related news, CEO Shawn David Nelson sold 18,988 shares of the firm’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 completion of the sale, the chief executive officer now owns 165,855 shares in the company, valued at $3,869,397.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.33% of the stock is currently owned by corporate insiders.

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.