SG Americas Securities LLC Acquires New Stake in The Lovesac Company (NASDAQ:LOVE)

SG Americas Securities LLC bought a new position in shares of The Lovesac Company (NASDAQ:LOVE) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,942 shares of the company’s stock, valued at approximately $170,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LSV Asset Management bought a new position in shares of Lovesac during the 1st quarter worth approximately $988,000. Susquehanna Fundamental Investments LLC acquired a new position in Lovesac during the first quarter worth $489,000. BCGM Wealth Management LLC grew its position in Lovesac by 3.5% in the first quarter. BCGM Wealth Management LLC now owns 133,141 shares of the company’s stock valued at $3,009,000 after purchasing an additional 4,450 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Lovesac by 12.8% in the 1st quarter. Russell Investments Group Ltd. now owns 13,966 shares of the company’s stock valued at $316,000 after buying an additional 1,584 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Lovesac by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 841,537 shares of the company’s stock worth $19,019,000 after buying an additional 11,745 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

Lovesac Stock Down 1.4 %

Shares of NASDAQ LOVE opened at $28.66 on Thursday. The Lovesac Company has a twelve month low of $14.18 and a twelve month high of $30.39. The company has a market cap of $445.69 million, a PE ratio of 33.72, a price-to-earnings-growth ratio of 0.65 and a beta of 2.91. The business’s 50 day moving average price is $25.43 and its two-hundred day moving average price is $24.90.

Lovesac (NASDAQ:LOVE) last posted its earnings results on Thursday, September 12th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The business had revenue of $156.59 million for the quarter, compared to analyst estimates of $154.01 million. As a group, research analysts anticipate that The Lovesac Company will post 1.09 EPS for the current fiscal year.

Analysts Set New Price Targets

LOVE has been the subject of several analyst reports. Craig Hallum raised their price objective on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 13th. Canaccord Genuity Group restated a “buy” rating and issued a $36.00 price target on shares of Lovesac in a research note on Friday, September 13th. DA Davidson reiterated a “buy” rating and set a $32.00 price objective on shares of Lovesac in a research note on Thursday, October 3rd. Finally, Roth Mkm increased their price objective on Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, September 13th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Lovesac has an average rating of “Buy” and a consensus price target of $34.50.

Insider Buying and Selling at Lovesac

In other news, Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total transaction of $262,200.00. Following the completion of the sale, the director now owns 177,849 shares in the company, valued at approximately $4,663,200.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 12.33% of the company’s stock.

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.