Connors Investor Services Inc. Boosts Stock Position in The Lovesac Company (NASDAQ:LOVE)

Connors Investor Services Inc. grew its holdings in shares of The Lovesac Company (NASDAQ:LOVE - Free Report) by 40.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,038 shares of the company's stock after buying an additional 30,639 shares during the quarter. Connors Investor Services Inc. owned 0.69% of Lovesac worth $2,533,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in LOVE. Heck Capital Advisors LLC bought a new stake in Lovesac in the 4th quarter worth about $26,000. Charles Schwab Investment Management Inc. increased its position in shares of Lovesac by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,524 shares of the company's stock valued at $982,000 after buying an additional 1,243 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Lovesac by 13.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,462 shares of the company's stock valued at $272,000 after acquiring an additional 1,333 shares in the last quarter. MetLife Investment Management LLC boosted its position 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. Finally, BCGM Wealth Management LLC grew its holdings in shares of Lovesac by 1.2% during the fourth quarter. BCGM Wealth Management LLC now owns 135,979 shares of the company's stock worth $3,217,000 after purchasing an additional 1,615 shares in the last quarter. 91.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Lovesac Price Performance

LOVE traded up $0.32 during midday trading on Monday, reaching $20.34. 131,251 shares of the company's stock traded hands, compared to its average volume of 373,560. The Lovesac Company has a 52 week low of $12.12 and a 52 week high of $39.49. The firm has a fifty day moving average of $18.13 and a two-hundred day moving average of $24.63. The stock has a market capitalization of $301.87 million, a price-to-earnings ratio of 59.81, a P/E/G ratio of 0.65 and a beta of 2.48.

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

Lovesac Company 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.