The Lovesac Company (NASDAQ:LOVE) Stake Raised by Jane Street Group LLC

Jane Street Group LLC lifted its stake in The Lovesac Company (NASDAQ:LOVE) by 74.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,776 shares of the company’s stock after purchasing an additional 34,451 shares during the quarter. Jane Street Group LLC owned 0.52% of Lovesac worth $2,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new stake in Lovesac in the 2nd quarter worth approximately $43,000. SG Americas Securities LLC acquired a new position in Lovesac in the 3rd quarter worth about $170,000. Valeo Financial Advisors LLC purchased a new stake in shares of Lovesac during the 3rd quarter worth about $242,000. Quest Partners LLC lifted its holdings in shares of Lovesac by 797.6% during the 2nd quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after buying an additional 7,617 shares during the last quarter. Finally, Versor Investments LP bought a new stake in shares of Lovesac in the 3rd quarter valued at approximately $255,000. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total value of $262,200.00. Following the sale, the director now directly owns 177,849 shares in the company, valued at $4,663,200.78. This trade represents a 5.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 12.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on LOVE shares. DA Davidson reduced their target price on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Craig Hallum upped their price objective on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Canaccord Genuity Group raised their target price on Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Roth Mkm upped their price target on Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lovesac has an average rating of “Buy” and an average target price of $38.33.

Lovesac Price Performance

LOVE stock opened at $23.93 on Monday. The stock has a market capitalization of $369.31 million, a price-to-earnings ratio of 46.92, a price-to-earnings-growth ratio of 0.99 and a beta of 2.97. The company has a 50-day moving average of $31.56 and a two-hundred day moving average of $27.20. The Lovesac Company has a 52-week low of $18.21 and a 52-week high of $39.49.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The firm had revenue of $149.90 million for the quarter, compared to analyst estimates of $155.26 million. During the same quarter last year, the firm posted ($0.15) EPS. The company’s revenue was down 2.7% on a year-over-year basis. Equities analysts expect that The Lovesac Company will post 1.09 EPS for the current fiscal year.

About Lovesac

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.