SG Americas Securities LLC Grows Position in The Lovesac Company (NASDAQ:LOVE)

SG Americas Securities LLC increased its position in The Lovesac Company (NASDAQ:LOVE) by 305.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,064 shares of the company’s stock after purchasing an additional 18,122 shares during the period. SG Americas Securities LLC owned 0.16% of Lovesac worth $569,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LOVE. Franklin Resources Inc. bought a new stake in shares of Lovesac during the 3rd quarter valued at $231,000. Valeo Financial Advisors LLC purchased a new position in Lovesac during the 3rd quarter valued at about $242,000. Versor Investments LP bought a new stake in Lovesac during the third quarter worth about $255,000. International Assets Investment Management LLC grew its holdings in Lovesac by 2,765.0% in the third quarter. International Assets Investment Management LLC now owns 11,460 shares of the company’s stock worth $328,000 after purchasing an additional 11,060 shares during the period. Finally, Semanteon Capital Management LP bought a new position in shares of Lovesac during the third quarter valued at approximately $380,000. Institutional investors own 91.32% of the company’s stock.

Insider Buying and Selling at Lovesac

In other news, Director Albert Jack Krause sold 30,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $26.33, for a total transaction of $789,900.00. Following the completion of the sale, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Walter Field Mclallen acquired 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of $24.68 per share, for a total transaction of $98,720.00. Following the acquisition, the director now owns 23,540 shares of the company’s stock, valued at $580,967.20. The trade was a 20.47 % increase in their position. The disclosure for this purchase can be found here. 12.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Lovesac Stock Performance

NASDAQ LOVE opened at $25.56 on Friday. The company has a market capitalization of $394.39 million, a price-to-earnings ratio of 75.18, a PEG ratio of 1.88 and a beta of 3.04. The stock has a 50-day moving average of $28.56 and a 200 day moving average of $27.45. The Lovesac Company has a one year low of $18.21 and a one year high of $39.49.

Lovesac (NASDAQ:LOVE) last posted its 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 during the quarter, compared to the consensus estimate of $155.26 million. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.15) EPS. On average, equities analysts predict that The Lovesac Company will post 0.39 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.