CastleKnight Management LP Sells 19,700 Shares of The Lovesac Company (NASDAQ:LOVE)

CastleKnight Management LP cut its stake in 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 Securities and Exchange Commission. The fund owned 9,400 shares of the company's stock after selling 19,700 shares during the period. CastleKnight Management LP owned about 0.06% of Lovesac worth $222,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Senvest Management LLC grew its stake in Lovesac by 17.4% in the fourth quarter. Senvest Management LLC now owns 1,106,767 shares of the company's stock valued at $26,186,000 after purchasing an additional 163,745 shares during the last quarter. Hood River Capital Management LLC grew its stake in Lovesac by 6.4% in the fourth quarter. Hood River Capital Management LLC now owns 986,947 shares of the company's stock valued at $23,351,000 after purchasing an additional 59,231 shares during the last quarter. Anson Funds Management LP grew its stake in Lovesac by 12.9% in the fourth quarter. Anson Funds Management LP now owns 919,229 shares of the company's stock valued at $21,749,000 after purchasing an additional 104,866 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Lovesac by 9.3% in the fourth quarter. Bank of New York Mellon Corp now owns 489,613 shares of the company's stock valued at $11,584,000 after purchasing an additional 41,751 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in Lovesac by 6.9% in the fourth quarter. Marshall Wace LLP now owns 452,901 shares of the company's stock valued at $10,716,000 after purchasing an additional 29,173 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors.

Lovesac Stock Performance

Shares of Lovesac stock traded up $0.80 on Monday, reaching $20.90. 206,504 shares of the company were exchanged, compared to its average volume of 375,358. The Lovesac Company has a 1-year low of $12.12 and a 1-year high of $39.49. The firm has a market cap of $310.26 million, a price-to-earnings ratio of 61.54, a P/E/G ratio of 0.65 and a beta of 2.48. The company's 50-day moving average is $18.11 and its two-hundred day moving average is $24.32.

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

Wall Street Analyst Weigh In

LOVE has been the subject of a number of analyst reports. Roth Mkm boosted their price target on Lovesac from $22.00 to $28.00 and gave the company a "buy" rating in a report on Friday, April 11th. Oppenheimer reaffirmed an "outperform" rating and issued a $35.00 price target on shares of Lovesac in a research report on Friday, April 11th. Canaccord Genuity Group cut their price target on Lovesac from $45.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, DA Davidson decreased their price target on Lovesac from $35.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lovesac has a consensus rating of "Buy" and a consensus target price of $31.67.

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.