Barclays PLC Purchases 15,390 Shares of The Lovesac Company (NASDAQ:LOVE)

Barclays PLC raised its position in The Lovesac Company (NASDAQ:LOVE) by 312.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 20,312 shares of the company’s stock after acquiring an additional 15,390 shares during the period. Barclays PLC owned about 0.13% of Lovesac worth $583,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of LOVE. Meeder Asset Management Inc. acquired a new position in Lovesac during the second quarter worth $43,000. SG Americas Securities LLC bought a new stake in Lovesac during the 3rd quarter worth about $170,000. Quest Partners LLC boosted its stake in shares of Lovesac by 797.6% during the 2nd 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. Valeo Financial Advisors LLC bought a new position in shares of Lovesac in the 3rd quarter valued at about $242,000. Finally, Versor Investments LP acquired a new stake in shares of Lovesac in the third quarter valued at about $255,000. Institutional investors and hedge funds own 91.32% of the company’s stock.

Lovesac Price Performance

Shares of Lovesac stock opened at $23.66 on Thursday. The business has a fifty day simple moving average of $30.83 and a two-hundred day simple moving average of $27.09. The Lovesac Company has a 1 year low of $18.21 and a 1 year high of $39.49. The company has a market capitalization of $365.14 million, a price-to-earnings ratio of 69.59, a P/E/G ratio of 1.49 and a beta of 2.97.

Lovesac (NASDAQ:LOVE) last posted its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. Lovesac had a net margin of 1.04% and a return on equity of 3.46%. The company had revenue of $149.90 million during the quarter, compared to analysts’ expectations of $155.26 million. During the same quarter last year, the company posted ($0.15) EPS. Lovesac’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that The Lovesac Company will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at Lovesac

In other news, Director Walter Field Mclallen acquired 4,000 shares of the stock in a transaction on Friday, December 20th. The shares were purchased at an average price of $24.68 per share, for a total transaction of $98,720.00. Following the transaction, the director now directly owns 23,540 shares of the company’s stock, valued at approximately $580,967.20. This represents a 20.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.33% of the company’s stock.

Analysts Set New Price Targets

LOVE has been the subject of a number of analyst reports. DA Davidson decreased their price target on Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Roth Mkm raised their target price on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group upped their price target on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Craig Hallum lifted their price objective 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $38.33.

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.