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

Barclays PLC boosted its holdings in The Lovesac Company (NASDAQ:LOVE) by 312.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,312 shares of the company’s stock after purchasing an additional 15,390 shares during the quarter. Barclays PLC owned about 0.13% of Lovesac worth $583,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LOVE. Soltis Investment Advisors LLC increased its stake in shares of Lovesac by 8.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 86,170 shares of the company’s stock valued at $2,469,000 after acquiring an additional 6,988 shares in the last quarter. Geode Capital Management LLC grew its holdings in Lovesac by 1.2% in the third quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock worth $9,634,000 after purchasing an additional 3,979 shares during the period. MML Investors Services LLC increased its stake in Lovesac by 46.9% in the third quarter. MML Investors Services LLC now owns 138,893 shares of the company’s stock valued at $3,979,000 after purchasing an additional 44,358 shares in the last quarter. Anson Funds Management LP raised its holdings in shares of Lovesac by 13.9% during the third quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock valued at $23,332,000 after purchasing an additional 99,651 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Lovesac during the 3rd quarter worth about $381,000. 91.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Lovesac Stock Performance

Shares of LOVE opened at $26.44 on Friday. The Lovesac Company has a 52 week low of $18.21 and a 52 week high of $39.49. The stock has a 50 day moving average price of $29.97 and a two-hundred day moving average price of $27.29. The firm has a market capitalization of $407.97 million, a P/E ratio of 77.76, a P/E/G ratio of 1.96 and a beta of 3.04.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.02. The business had revenue of $149.90 million during the quarter, compared to the consensus estimate of $155.26 million. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. Lovesac’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) earnings per share. On average, equities analysts forecast that The Lovesac Company will post 0.39 earnings per share for the current year.

Insider Activity

In other Lovesac news, Director Walter Field Mclallen bought 4,000 shares of Lovesac stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of $24.68 per share, with a total value of $98,720.00. Following the completion of the acquisition, the director now directly owns 23,540 shares in the company, valued at approximately $580,967.20. The trade was a 20.47 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.33% of the stock is currently owned by corporate insiders.

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.