JPMorgan Chase & Co. Purchases 14,480 Shares of The Lovesac Company (NASDAQ:LOVE)

JPMorgan Chase & Co. increased its position in shares of The Lovesac Company (NASDAQ:LOVE) by 76.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,510 shares of the company’s stock after buying an additional 14,480 shares during the period. JPMorgan Chase & Co. owned 0.22% of Lovesac worth $960,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Lovesac during the 3rd quarter worth about $170,000. Franklin Resources Inc. bought a new position in Lovesac during the third quarter worth about $231,000. Valeo Financial Advisors LLC acquired a new position in Lovesac during the third quarter worth approximately $242,000. Versor Investments LP acquired a new stake in shares of Lovesac in the third quarter valued at approximately $255,000. Finally, International Assets Investment Management LLC lifted its position in shares of Lovesac by 2,765.0% in the third quarter. International Assets Investment Management LLC now owns 11,460 shares of the company’s stock valued at $328,000 after buying an additional 11,060 shares during the last quarter. 91.32% of the stock is owned by institutional investors.

Lovesac Price Performance

LOVE stock opened at $25.85 on Friday. The business’s fifty day moving average price is $29.35 and its two-hundred day moving average price is $27.48. The stock has a market capitalization of $398.94 million, a price-to-earnings ratio of 76.03, a PEG ratio of 1.89 and a beta of 3.04. The Lovesac Company has a fifty-two week low of $18.21 and a fifty-two week high of $39.49.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, December 12th. The company reported ($0.32) EPS 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 analyst estimates of $155.26 million. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. Lovesac’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) earnings per share. Research analysts expect that The Lovesac Company will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Walter Field Mclallen purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $24.68 per share, for a total transaction of $98,720.00. Following the completion of the transaction, the director now owns 23,540 shares of the company’s stock, valued at approximately $580,967.20. This trade represents a 20.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Albert Jack Krause sold 30,000 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $26.33, for a total transaction of $789,900.00. Following the sale, the director now directly owns 147,849 shares of the company’s stock, valued at $3,892,864.17. This represents a 16.87 % decrease in their position. The disclosure for this sale can be found here. 12.33% of the stock is owned by company 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.