CastleKnight Management LP Trims Holdings in The Lovesac Company (NASDAQ:LOVE)

CastleKnight Management LP lowered its position in shares of The Lovesac Company (NASDAQ:LOVE - Free Report) by 67.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,400 shares of the company's stock after selling 19,700 shares during the quarter. CastleKnight Management LP owned approximately 0.06% of Lovesac worth $222,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in shares of Lovesac in the fourth quarter valued at $26,000. AlphaQuest LLC purchased a new stake in Lovesac in the 4th quarter valued at about $70,000. MetLife Investment Management LLC increased its stake in shares of Lovesac by 18.3% during the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company's stock valued at $218,000 after acquiring an additional 1,425 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Lovesac by 24.8% during the 4th quarter. Wells Fargo & Company MN now owns 9,823 shares of the company's stock worth $232,000 after acquiring an additional 1,950 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Lovesac by 13.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,462 shares of the company's stock worth $272,000 after acquiring an additional 1,333 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LOVE. DA Davidson lowered their price objective on shares of Lovesac from $35.00 to $24.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Canaccord Genuity Group cut their price target on shares of Lovesac from $45.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Roth Mkm boosted their price objective on shares of Lovesac from $22.00 to $28.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, Oppenheimer reissued an "outperform" rating and issued a $35.00 target price on shares of Lovesac in a research note on Friday, April 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $31.67.

Lovesac Stock Up 3.0 %

Shares of NASDAQ:LOVE opened at $20.82 on Wednesday. The company has a market capitalization of $309.13 million, a price-to-earnings ratio of 61.25, a price-to-earnings-growth ratio of 0.65 and a beta of 2.48. The company has a 50 day moving average of $18.08 and a two-hundred day moving average of $24.53. The Lovesac Company has a 52-week low of $12.12 and a 52-week high of $39.49.

Lovesac (NASDAQ:LOVE - Get Free Report) last released its quarterly earnings results on Thursday, April 10th. The company reported $2.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.80 by $0.33. The business had revenue of $241.50 million during the quarter, compared to analyst estimates of $230.33 million. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The business's revenue was down 3.6% on a year-over-year basis. During the same period last year, the business earned $1.87 EPS. On average, equities analysts anticipate that The Lovesac Company will post 0.39 earnings per share for the current year.

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.

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