Granahan Investment Management LLC Cuts Stock Holdings in 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 decreased its position in The Lovesac Company (NASDAQ:LOVE - Free Report) by 96.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,663 shares of the company's stock after selling 307,895 shares during the period. Granahan Investment Management LLC owned approximately 0.09% of Lovesac worth $230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LOVE. SG Americas Securities LLC lifted its holdings in Lovesac by 1,165.7% in the first quarter. SG Americas Securities LLC now owns 304,586 shares of the company's stock valued at $5,537,000 after buying an additional 280,522 shares during the period. AWM Investment Company Inc. grew its position in shares of Lovesac by 33.2% during the 4th quarter. AWM Investment Company Inc. now owns 681,741 shares of the company's stock worth $16,130,000 after buying an additional 170,045 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Lovesac during the 1st quarter worth approximately $2,390,000. Trexquant Investment LP grew its position in shares of Lovesac by 249.1% during the 1st quarter. Trexquant Investment LP now owns 152,734 shares of the company's stock worth $2,777,000 after buying an additional 108,987 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Lovesac by 391.8% during the 1st quarter. AQR Capital Management LLC now owns 111,727 shares of the company's stock worth $2,031,000 after buying an additional 89,007 shares during the period. Institutional investors and hedge funds own 91.32% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LOVE shares. Wall Street Zen raised shares of Lovesac from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. DA Davidson reaffirmed a "buy" rating and set a $24.00 price objective on shares of Lovesac in a research report on Tuesday. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $30.40.

Lovesac Trading Up 7.6%

Shares of LOVE traded up $1.47 on Wednesday, reaching $20.77. The company's stock had a trading volume of 697,924 shares, compared to its average volume of 406,426. The Lovesac Company has a twelve month low of $12.12 and a twelve month high of $39.49. The stock has a market capitalization of $302.14 million, a PE ratio of 29.67, a PEG ratio of 0.62 and a beta of 2.35. The firm has a fifty day moving average of $18.83 and a 200-day moving average of $18.74.

Lovesac (NASDAQ:LOVE - Get Free Report) last posted its earnings results on Thursday, June 12th. The company reported ($0.73) earnings per share for the quarter, topping analysts' consensus estimates of ($0.81) by $0.08. Lovesac had a net margin of 1.99% and a return on equity of 6.70%. The company had revenue of $138.37 million for the quarter, compared to analyst estimates of $137.20 million. During the same quarter in the prior year, the business posted ($0.83) EPS. The firm's revenue was up 4.4% compared to the same quarter last year. Lovesac has set its Q2 2026 guidance at -0.830--0.580 EPS. FY 2026 guidance at 0.800-1.360 EPS. As a group, equities analysts anticipate that The Lovesac Company will post 0.39 EPS for the current fiscal year.

Insider Activity

In related news, Director Walter Field Mclallen bought 1,950 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were bought at an average price of $18.08 per share, with a total value of $35,256.00. Following the completion of the transaction, the director directly owned 40,000 shares in the company, valued at approximately $723,200. This represents a 5.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.46% of the stock is currently owned by insiders.

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.