Empowered Funds LLC Increases Stake in The Lovesac Company (NASDAQ:LOVE)

Empowered Funds LLC increased its position in shares of The Lovesac Company (NASDAQ:LOVE) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,725 shares of the company’s stock after buying an additional 2,441 shares during the period. Empowered Funds LLC owned about 0.34% of Lovesac worth $1,224,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Senvest Management LLC grew its holdings in Lovesac by 47.3% during the 3rd quarter. Senvest Management LLC now owns 943,022 shares of the company’s stock worth $27,018,000 after acquiring an additional 302,643 shares in the last quarter. Roubaix Capital LLC purchased a new stake in shares of Lovesac during the 3rd quarter worth $4,520,000. Anson Funds Management LP grew its stake in shares of Lovesac by 13.9% during the third quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock worth $23,332,000 after purchasing an additional 99,651 shares in the last quarter. MML Investors Services LLC increased its holdings in Lovesac by 46.9% in the third quarter. MML Investors Services LLC now owns 138,893 shares of the company’s stock valued at $3,979,000 after buying an additional 44,358 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in Lovesac by 74.4% in the third quarter. Jane Street Group LLC now owns 80,776 shares of the company’s stock valued at $2,314,000 after buying an additional 34,451 shares during the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

Insiders Place Their Bets

In other news, Director Albert Jack Krause sold 30,000 shares of the 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 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Walter Field Mclallen purchased 4,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were bought 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 approximately $580,967.20. The trade was a 20.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.33% of the stock is currently owned by insiders.

Lovesac Stock Up 2.3 %

NASDAQ:LOVE opened at $23.52 on Monday. The Lovesac Company has a 52-week low of $18.21 and a 52-week high of $39.49. The stock’s 50 day moving average price is $25.65 and its 200 day moving average price is $27.10. The company has a market capitalization of $362.91 million, a PE ratio of 69.18, a P/E/G ratio of 0.65 and a beta of 3.02.

Lovesac (NASDAQ:LOVE) last announced its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The business had revenue of $149.90 million for the quarter, compared to analyst estimates of $155.26 million. During the same period last year, the firm posted ($0.15) earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Lovesac Company will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LOVE. Canaccord Genuity Group lifted their price target on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. DA Davidson cut their price objective on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Finally, Roth Mkm upped their target price on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $38.33.

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.