Granahan Investment Management LLC Sells 307,895 Shares of The Lovesac Company $LOVE

Key Points

• Granahan Investment Management LLC sold 307,895 shares of The Lovesac Company, reducing its stake by 96% and leaving it with 12,663 shares worth approximately $230,000.
• Several hedge funds have adjusted their positions in Lovesac, with Quarry LP increasing its stake by 396.3%, and overall institutional investors own 91.32% of the company's stock.
• Lovesac has received a consensus rating of "Buy" from analysts, with a target price of $30.40, following a recent upgrade from a "sell" to a "hold" rating by Wall Street Zen.

Granahan Investment Management LLC lessened its position in The Lovesac Company (NASDAQ:LOVE - Free Report) by 96.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,663 shares of the company's stock after selling 307,895 shares during the quarter. Granahan Investment Management LLC owned approximately 0.09% of Lovesac worth $230,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of LOVE. Barclays PLC raised its position in Lovesac by 10.6% in the 4th quarter. Barclays PLC now owns 22,472 shares of the company's stock valued at $531,000 after buying an additional 2,160 shares during the last quarter. MetLife Investment Management LLC raised its position in Lovesac by 18.3% in the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company's stock valued at $218,000 after buying an additional 1,425 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Lovesac by 13.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,462 shares of the company's stock valued at $272,000 after buying an additional 1,333 shares during the last quarter. Bridgeway Capital Management LLC increased its position in shares of Lovesac by 3.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 82,725 shares of the company's stock worth $1,957,000 after purchasing an additional 2,441 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Lovesac in the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 91.32% of the company's stock.

Lovesac Stock Down 11.7%

Shares of NASDAQ:LOVE traded down $2.44 during trading on Thursday, reaching $18.32. 1,028,424 shares of the company traded hands, compared to its average volume of 411,561. The company's 50 day moving average is $18.86 and its two-hundred day moving average is $18.75. The firm has a market capitalization of $266.48 million, a PE ratio of 26.06, a PEG ratio of 0.62 and a beta of 2.35. 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 earnings results on Thursday, September 11th. The company reported ($0.45) earnings per share for the quarter, beating analysts' consensus estimates of ($0.72) by $0.27. Lovesac had a return on equity of 6.70% and a net margin of 1.99%.The firm had revenue of $160.53 million during the quarter, compared to the consensus estimate of $160.42 million. During the same period in the prior year, the company posted ($0.38) EPS. The company's revenue was up 2.5% compared to the same quarter last year. Lovesac has set its Q3 2026 guidance at -0.830--0.51 EPS. FY 2026 guidance at 0.520-1.05 EPS. As a group, research analysts anticipate that The Lovesac Company will post 0.39 EPS for the current year.

Insider Activity at Lovesac

In other Lovesac news, Director Walter Field Mclallen purchased 1,950 shares of the stock in a transaction dated Friday, June 20th. The stock was bought at an average price of $18.08 per share, with a total value of $35,256.00. Following the acquisition, the director owned 40,000 shares of the company's stock, valued at approximately $723,200. This represents a 5.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 12.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Lovesac from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. DA Davidson reiterated a "buy" rating and set a $24.00 target price on shares of Lovesac in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Lovesac currently has an average rating of "Buy" and an average price target of $30.40.

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.