The Lovesac Company (NASDAQ:LOVE) Director Albert Jack Krause Sells 30,000 Shares

The Lovesac Company (NASDAQ:LOVE) Director Albert Jack Krause sold 30,000 shares of the company’s 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 sale, the director now directly owns 147,849 shares of the company’s stock, valued at approximately $3,892,864.17. This represents a 16.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Lovesac Stock Performance

LOVE opened at $25.85 on Friday. The business’s 50 day moving average price is $29.35 and its 200 day moving average price is $27.45. The stock has a market capitalization of $398.87 million, a PE ratio of 76.03, a P/E/G ratio of 1.89 and a beta of 3.04. The Lovesac Company has a one year low of $18.21 and a one year high of $39.49.

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

Institutional Investors Weigh In On Lovesac

Institutional investors and hedge funds have recently made changes to their positions in the stock. Senvest Management LLC boosted its position in shares of 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 purchasing an additional 302,643 shares during the period. Anson Funds Management LP boosted its position 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 buying an additional 99,651 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Lovesac by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock worth $17,951,000 after buying an additional 26,872 shares during the period. Geode Capital Management LLC grew its stake in shares of Lovesac by 1.2% in the third quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock valued at $9,634,000 after buying an additional 3,979 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Lovesac by 1.7% in the 3rd quarter. State Street Corp now owns 299,081 shares of the company’s stock valued at $8,569,000 after buying an additional 5,124 shares during the period. 91.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Roth Mkm upped their price target on Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group boosted their price objective on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, DA Davidson cut their target price on Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $38.33.

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.