Lombard Odier Asset Management USA Corp Acquires New Shares in The Lovesac Company (NASDAQ:LOVE)

Lombard Odier Asset Management USA Corp bought a new stake in The Lovesac Company (NASDAQ:LOVE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,339 shares of the company’s stock, valued at approximately $346,000. Lombard Odier Asset Management USA Corp owned about 0.10% of Lovesac as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LOVE. EntryPoint Capital LLC acquired a new position in Lovesac in the 1st quarter worth about $39,000. Meeder Asset Management Inc. acquired a new position in shares of Lovesac in the second quarter valued at approximately $43,000. Quest Partners LLC raised its holdings in Lovesac by 797.6% in the 2nd quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after buying an additional 7,617 shares during the last quarter. SG Americas Securities LLC boosted its position in Lovesac by 106.1% during the 1st 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 period. Finally, Price T Rowe Associates Inc. MD grew 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 acquiring an additional 726 shares during the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

Lovesac Trading Down 5.4 %

Shares of LOVE opened at $26.12 on Monday. The stock has a 50 day moving average of $24.90 and a 200 day moving average of $24.13. The company has a market capitalization of $406.19 million, a price-to-earnings ratio of 30.73, a PEG ratio of 0.55 and a beta of 2.90. The Lovesac Company has a 12 month low of $14.18 and a 12 month high of $30.39.

Wall Street Analyst Weigh In

LOVE has been the topic of a number of analyst reports. Craig Hallum upped their price target on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Maxim Group upped their target price on Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a report on Monday, June 17th. Roth Mkm raised their price target on shares of Lovesac from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Canaccord Genuity Group restated a “buy” rating and issued a $36.00 price target on shares of Lovesac in a research report on Friday, September 13th. Finally, DA Davidson increased their price objective on shares of Lovesac from $24.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lovesac presently has an average rating of “Buy” and a consensus target price of $34.50.

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.