Charles Schwab Investment Management Inc. Buys 1,243 Shares of The Lovesac Company (NASDAQ:LOVE)

Charles Schwab Investment Management Inc. grew its holdings in The Lovesac Company (NASDAQ:LOVE) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,524 shares of the company’s stock after purchasing an additional 1,243 shares during the period. Charles Schwab Investment Management Inc. owned about 0.27% of Lovesac worth $982,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Versor Investments LP raised its holdings in Lovesac by 58.3% in the 4th quarter. Versor Investments LP now owns 14,086 shares of the company’s stock valued at $333,000 after acquiring an additional 5,186 shares during the period. Bank of New York Mellon Corp raised its stake in Lovesac by 9.3% during the fourth quarter. Bank of New York Mellon Corp now owns 489,613 shares of the company’s stock worth $11,584,000 after acquiring an additional 41,751 shares in the last quarter. BCGM Wealth Management LLC boosted its position in Lovesac by 1.2% in the fourth quarter. BCGM Wealth Management LLC now owns 135,979 shares of the company’s stock valued at $3,217,000 after buying an additional 1,615 shares in the last quarter. New York State Common Retirement Fund grew its position in Lovesac by 1,976.1% during the 4th quarter. New York State Common Retirement Fund now owns 118,795 shares of the company’s stock worth $2,811,000 after acquiring an additional 113,073 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in Lovesac by 5.0% in the 4th quarter. Empowered Funds LLC now owns 51,725 shares of the company’s stock valued at $1,224,000 after buying an additional 2,441 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on LOVE shares. Canaccord Genuity Group lifted their price objective on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Roth Mkm lifted their target price on Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, DA Davidson restated a “buy” rating and issued a $35.00 target price on shares of Lovesac in a research note on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Lovesac has a consensus rating of “Buy” and a consensus price target of $38.33.

Insider Activity

In related news, Director Albert Jack Krause sold 30,000 shares of the company’s stock in a transaction on 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 transaction, the director now owns 147,849 shares in the company, valued at approximately $3,892,864.17. This represents a 16.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.33% of the company’s stock.

Lovesac Stock Down 0.1 %

LOVE stock opened at $18.65 on Monday. The Lovesac Company has a twelve month low of $15.22 and a twelve month high of $39.49. The business has a 50 day moving average of $21.26 and a 200 day moving average of $26.24. The firm has a market cap of $287.83 million, a PE ratio of 54.85, a price-to-earnings-growth ratio of 0.65 and a beta of 3.05.

Lovesac Company 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.