GSA Capital Partners LLP Has $596,000 Holdings in The Lovesac Company (NASDAQ:LOVE)

Key Points

• GSA Capital Partners LLP increased its holdings in The Lovesac Company by 204.3% in Q1, owning 32,759 shares valued at $596,000.
• Several institutional investors, including Skylands Capital and SG Americas Securities, have also significantly increased their positions in Lovesac, indicating a strong interest in the company.
• The average price target for Lovesac shares according to analysts is $30.40, with one hold rating and five buy ratings, despite recent price adjustments.

GSA Capital Partners LLP increased its position in shares of The Lovesac Company (NASDAQ:LOVE - Free Report) by 204.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,759 shares of the company's stock after acquiring an additional 21,993 shares during the quarter. GSA Capital Partners LLP owned approximately 0.22% of Lovesac worth $596,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of LOVE. Pacer Advisors Inc. purchased a new position in shares of Lovesac during the 1st quarter valued at approximately $2,390,000. Skylands Capital LLC increased its position in Lovesac by 5.4% in the first quarter. Skylands Capital LLC now owns 190,400 shares of the company's stock worth $3,461,000 after buying an additional 9,750 shares during the period. Harbour Capital Advisors LLC acquired a new position in shares of Lovesac during the first quarter valued at $327,000. SummerHaven Investment Management LLC boosted its holdings in shares of Lovesac by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 33,949 shares of the company's stock valued at $617,000 after acquiring an additional 562 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Lovesac by 1,165.7% during the first quarter. SG Americas Securities LLC now owns 304,586 shares of the company's stock worth $5,537,000 after buying an additional 280,522 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LOVE. Oppenheimer reiterated an "outperform" rating and set a $35.00 target price on shares of Lovesac in a research report on Friday, April 11th. Canaccord Genuity Group dropped their price target on shares of Lovesac from $45.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. 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 reduced their price target on shares of Lovesac from $35.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Roth Mkm raised their price target on shares of Lovesac from $22.00 to $28.00 and gave the stock a "buy" rating in a report on Friday, April 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.40.

Insider Buying and Selling

In other Lovesac news, Director Walter Field Mclallen bought 1,950 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average price of $18.08 per share, for a total transaction of $35,256.00. Following the purchase, the director directly owned 40,000 shares in the company, valued at $723,200. This trade represents a 5.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.33% of the stock is owned by company insiders.

Lovesac Price Performance

NASDAQ:LOVE traded down $0.14 on Thursday, reaching $18.05. The stock had a trading volume of 169,853 shares, compared to its average volume of 418,243. The firm's fifty day moving average is $18.72 and its two-hundred day moving average is $19.65. The Lovesac Company has a 12-month low of $12.12 and a 12-month high of $39.49. The company has a market cap of $262.61 million, a price-to-earnings ratio of 26.02, a P/E/G ratio of 0.58 and a beta of 2.20.

Lovesac (NASDAQ:LOVE - Get Free Report) last issued its earnings results on Thursday, June 12th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.08. Lovesac had a return on equity of 6.70% and a net margin of 1.99%. The company had revenue of $138.37 million during the quarter, compared to analyst estimates of $137.20 million. During the same quarter last year, the firm earned ($0.83) EPS. The business's revenue was up 4.4% on a year-over-year basis. As a group, research analysts forecast that The Lovesac Company will post 0.39 earnings per share for the current fiscal year.

About Lovesac

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.