The Lovesac Company (NASDAQ:LOVE) Stock Position Decreased by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its position in The Lovesac Company (NASDAQ:LOVE) by 50.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,799 shares of the company’s stock after selling 8,846 shares during the quarter. BNP Paribas Financial Markets owned about 0.06% of Lovesac worth $252,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Millrace Asset Group Inc. raised its holdings in Lovesac by 63.0% during the third quarter. Millrace Asset Group Inc. now owns 68,503 shares of the company’s stock valued at $1,963,000 after buying an additional 26,481 shares in the last quarter. Senvest Management LLC raised its stake in shares of Lovesac by 47.3% in the 3rd quarter. Senvest Management LLC now owns 943,022 shares of the company’s stock valued at $27,018,000 after acquiring an additional 302,643 shares in the last quarter. BCGM Wealth Management LLC lifted its holdings in Lovesac by 0.8% in the 3rd quarter. BCGM Wealth Management LLC now owns 134,364 shares of the company’s stock worth $3,850,000 after purchasing an additional 1,023 shares during the last quarter. Empowered Funds LLC boosted its position in Lovesac by 5.1% during the third quarter. Empowered Funds LLC now owns 49,284 shares of the company’s stock worth $1,412,000 after purchasing an additional 2,412 shares during the period. Finally, Versor Investments LP bought a new stake in Lovesac during the third quarter worth approximately $255,000. Institutional investors own 91.32% of the company’s stock.

Insider Activity

In other news, Director Albert Jack Krause sold 10,000 shares of Lovesac stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total transaction of $262,200.00. Following the sale, the director now directly owns 177,849 shares in the company, valued at approximately $4,663,200.78. The trade was a 5.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on LOVE. Craig Hallum lifted their price target on shares of Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Canaccord Genuity Group lifted their target price on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. DA Davidson decreased their price target on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a report on Friday. Finally, Roth Mkm raised their price target on Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Lovesac currently has an average rating of “Buy” and a consensus target price of $38.33.

Lovesac Price Performance

Shares of Lovesac stock opened at $26.95 on Tuesday. The firm has a fifty day moving average price of $31.61 and a two-hundred day moving average price of $27.28. The Lovesac Company has a fifty-two week low of $18.21 and a fifty-two week high of $39.49. The company has a market cap of $419.32 million, a PE ratio of 52.84, a price-to-earnings-growth ratio of 0.99 and a beta of 2.97.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. The business had revenue of $149.90 million for the quarter, compared to the consensus estimate of $155.26 million. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the business earned ($0.15) earnings per share. Analysts expect that The Lovesac Company will post 1.09 earnings per share for the current fiscal year.

Lovesac 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.