1492 Capital Management LLC Makes New $1.21 Million Investment in The Lovesac Company $LOVE

Key Points

• 1492 Capital Management initiated a new position in Lovesac, buying 81,629 shares valued at about $1.21 million in the first quarter and owning 0.56% of the company.
• Institutional ownership remains high, with 91.32% of Lovesac stock held by institutional investors; several other funds also recently increased or opened positions.
• Lovesac’s recent results were better than expected, as it posted a smaller-than-expected loss of ($0.76) EPS versus consensus estimates of ($1.03), while revenue came in at $138.2 million. Analysts currently rate the stock a Moderate Buy with an average price target of $22.67.

1492 Capital Management LLC bought a new position in shares of The Lovesac Company (NASDAQ:LOVE - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 81,629 shares of the company's stock, valued at approximately $1,206,000. 1492 Capital Management LLC owned 0.56% of Lovesac at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LOVE. Corient Private Wealth LLC boosted its stake in Lovesac by 139.5% during the 4th quarter. Corient Private Wealth LLC now owns 279,087 shares of the company's stock worth $4,117,000 after acquiring an additional 162,580 shares during the last quarter. Invesco Ltd. raised its stake in Lovesac by 32.3% during the 4th quarter. Invesco Ltd. now owns 73,880 shares of the company's stock worth $1,090,000 after buying an additional 18,027 shares during the period. Empowered Funds LLC lifted its holdings in Lovesac by 10.8% during the fourth quarter. Empowered Funds LLC now owns 76,547 shares of the company's stock worth $1,129,000 after acquiring an additional 7,483 shares in the last quarter. XTX Topco Ltd bought a new position in Lovesac during the fourth quarter worth about $149,000. Finally, Millennium Management LLC grew its stake in Lovesac by 378.9% in the fourth quarter. Millennium Management LLC now owns 327,477 shares of the company's stock valued at $4,830,000 after acquiring an additional 259,097 shares during the period. 91.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. DA Davidson increased their price target on Lovesac from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, June 12th. Wall Street Zen upgraded Lovesac from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Roth Mkm reiterated a "buy" rating on shares of Lovesac in a research report on Friday, March 27th. Canaccord Genuity Group set a $22.00 target price on Lovesac in a research note on Thursday, June 11th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Lovesac in a report on Wednesday. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lovesac has an average rating of "Moderate Buy" and an average price target of $22.67.

Lovesac Price Performance

Shares of Lovesac stock opened at $16.93 on Friday. The firm has a market cap of $247.86 million, a price-to-earnings ratio of 65.12, a price-to-earnings-growth ratio of 0.96 and a beta of 2.02. The stock's 50-day moving average is $15.83 and its 200-day moving average is $14.47. The Lovesac Company has a one year low of $10.33 and a one year high of $20.88.

Lovesac (NASDAQ:LOVE - Get Free Report) last posted its quarterly earnings data on Thursday, June 11th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.03) by $0.27. Lovesac had a return on equity of 1.88% and a net margin of 0.55%.The business had revenue of $138.20 million during the quarter, compared to the consensus estimate of $136.66 million. During the same period last year, the company earned ($0.73) earnings per share. Lovesac's quarterly revenue was down .1% on a year-over-year basis. Lovesac has set its Q2 2027 guidance at 0.200-0.480 EPS and its FY 2027 guidance at 0.340-0.810 EPS. On average, equities analysts expect that The Lovesac Company will post 0.5 EPS for the current year.

Insider Buying and Selling

In other Lovesac news, CEO Shawn David Nelson bought 1,477 shares of Lovesac stock in a transaction that occurred on Thursday, April 16th. The stock was acquired at an average price of $16.95 per share, for a total transaction of $25,035.15. Following the completion of the acquisition, the chief executive officer owned 202,681 shares of the company's stock, valued at $3,435,442.95. This trade represents a 0.73% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew R. Heyer bought 30,000 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The stock was acquired at an average cost of $14.68 per share, with a total value of $440,400.00. Following the transaction, the director owned 293,259 shares of the company's stock, valued at $4,305,042.12. This represents a 11.40% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 35,027 shares of company stock worth $515,182 over the last quarter. 7.79% of the stock is owned by corporate insiders.

About Lovesac

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.

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