Bastion Asset Management Inc. Boosts Position in The Lovesac Company $LOVE

Key Points

• Bastion Asset Management increased its Lovesac stake by 193.6% in the first quarter, ending with 356,097 shares worth about $5.29 million and representing roughly 2.41% of the company.
• Lovesac recently reported quarterly EPS of ($0.76), beating estimates, and revenue of $138.2 million, also topping expectations, though sales were slightly below the year-ago period.
• Analyst sentiment remains mixed but generally positive, with a Moderate Buy consensus and an average price target of $22.67; meanwhile, director Andrew R. Heyer bought 30,000 shares in June, boosting insider ownership.

Bastion Asset Management Inc. lifted its position in The Lovesac Company (NASDAQ:LOVE - Free Report) by 193.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 356,097 shares of the company's stock after buying an additional 234,812 shares during the quarter. Bastion Asset Management Inc. owned approximately 2.41% of Lovesac worth $5,290,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in Lovesac by 130.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,938 shares of the company's stock valued at $35,000 after purchasing an additional 1,097 shares during the period. Ancora Advisors LLC bought a new stake in shares of Lovesac during the 3rd quarter valued at about $146,000. XTX Topco Ltd purchased a new position in shares of Lovesac during the fourth quarter worth about $149,000. PFG Investments LLC purchased a new stake in Lovesac in the fourth quarter valued at approximately $156,000. Finally, HRT Financial LP bought a new stake in Lovesac during the fourth quarter valued at approximately $160,000. 91.32% of the stock is currently owned by institutional investors.

Lovesac Stock Performance

Shares of Lovesac stock opened at $18.70 on Friday. The Lovesac Company has a 52-week low of $10.33 and a 52-week high of $20.88. The company's 50 day moving average price is $16.12 and its 200-day moving average price is $14.79. The stock has a market capitalization of $273.77 million, a price-to-earnings ratio of 71.92, a P/E/G ratio of 1.01 and a beta of 2.00.

Lovesac (NASDAQ:LOVE - Get Free Report) last released its quarterly earnings data on Thursday, June 11th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.03) by $0.27. The firm had revenue of $138.20 million for the quarter, compared to analysts' expectations of $136.66 million. Lovesac had a net margin of 0.55% and a return on equity of 1.88%. The company's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.73) earnings per share. Lovesac has set its Q2 2027 guidance at 0.200-0.480 EPS and its FY 2027 guidance at 0.340-0.810 EPS. As a group, equities research analysts forecast that The Lovesac Company will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on LOVE. Weiss Ratings restated a "sell (d)" rating on shares of Lovesac in a research report on Wednesday, June 24th. DA Davidson lifted their price target on Lovesac from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, June 12th. Roth Capital reiterated a "buy" rating on shares of Lovesac in a research report on Friday, March 27th. Wall Street Zen upgraded Lovesac from a "sell" rating to a "hold" rating in a research report on Saturday, April 4th. Finally, Canaccord Genuity Group set a $22.00 price target on shares of Lovesac in a research note on Thursday, June 11th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.67.

Insider Transactions at Lovesac

In related news, Director Andrew R. Heyer acquired 30,000 shares of the firm's stock in a transaction on Thursday, June 18th. The stock was acquired at an average cost of $14.68 per share, for a total transaction of $440,400.00. Following the acquisition, the director owned 293,259 shares of the company's stock, valued at $4,305,042.12. This trade represents a 11.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have acquired 33,550 shares of company stock worth $490,146. 7.79% of the stock is currently owned by insiders.

Lovesac Profile

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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