Brokerages Set The Lovesac Company (NASDAQ:LOVE) PT at $22.67

Shares of The Lovesac Company (NASDAQ:LOVE) have earned an average rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.6667.

Several research firms have recently weighed in on LOVE. Roth Mkm reissued a “buy” rating on shares of Lovesac in a report on Friday, March 27th. Wall Street Zen raised Lovesac from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lovesac in a research note on Friday, March 27th.

Lovesac Stock Performance

Lovesac stock opened at $16.42 on Friday. Lovesac has a fifty-two week low of $10.33 and a fifty-two week high of $21.15. The company has a market capitalization of $242.67 million, a P/E ratio of 56.62, a PEG ratio of 0.75 and a beta of 2.02. The stock has a 50-day simple moving average of $15.60 and a 200-day simple moving average of $14.22.

Lovesac (NASDAQ:LOVE) last posted its earnings results on Thursday, March 26th. The company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.19. Lovesac had a return on equity of 2.02% and a net margin of 0.58%.The business had revenue of $248.05 million during the quarter, compared to the consensus estimate of $242.77 million. During the same period in the previous year, the business earned $2.13 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts forecast that Lovesac will post 0.59 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Shawn David Nelson acquired 1,477 shares of Lovesac stock in a transaction on Thursday, April 16th. The stock was purchased at an average cost of $16.95 per share, with a total value of $25,035.15. Following the purchase, the chief executive officer directly owned 202,681 shares in the company, valued at approximately $3,435,442.95. The trade was a 0.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Lovesac

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Isthmus Partners LLC purchased a new stake in Lovesac during the 3rd quarter valued at approximately $2,348,000. BCGM Wealth Management LLC raised its stake in Lovesac by 77.4% during the 4th quarter. BCGM Wealth Management LLC now owns 241,532 shares of the company’s stock valued at $3,563,000 after acquiring an additional 105,349 shares during the last quarter. Bastion Asset Management Inc. purchased a new stake in Lovesac during the 4th quarter valued at approximately $1,767,000. Skylands Capital LLC raised its stake in Lovesac by 53.4% during the 4th quarter. Skylands Capital LLC now owns 291,397 shares of the company’s stock valued at $4,298,000 after acquiring an additional 101,447 shares during the last quarter. Finally, UBS Group AG raised its stake in Lovesac by 63.9% during the 4th quarter. UBS Group AG now owns 229,643 shares of the company’s stock valued at $3,387,000 after acquiring an additional 89,537 shares during the last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.

Lovesac Company Profile

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.