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

Several other institutional investors have also made changes to their positions in LOVE. Pacer Advisors Inc. acquired a new position in Lovesac in the first quarter worth about $2,390,000. Skylands Capital LLC grew its stake in shares of Lovesac by 5.4% in the 1st quarter. Skylands Capital LLC now owns 190,400 shares of the company's stock valued at $3,461,000 after purchasing an additional 9,750 shares during the period. Harbour Capital Advisors LLC acquired a new position in shares of Lovesac in the 1st quarter worth approximately $327,000. SummerHaven Investment Management LLC raised its holdings in shares of Lovesac by 1.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 33,949 shares of the company's stock worth $617,000 after buying an additional 562 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Lovesac by 1,165.7% during the 1st 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 during the period. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LOVE. Oppenheimer reiterated an "outperform" rating and issued a $35.00 price target on shares of Lovesac 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. Roth Mkm increased their target price on shares of Lovesac from $22.00 to $28.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. 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 report on Friday, April 11th. Finally, Canaccord Genuity Group decreased their price objective on shares of Lovesac from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $30.40.

Insider Buying and Selling at Lovesac

In other news, Director Walter Field Mclallen acquired 1,950 shares of Lovesac stock in a transaction on Friday, June 20th. The shares were purchased 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 in the company, valued at $723,200. This represents a 5.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.33% of the stock is currently owned by corporate insiders.

Lovesac Stock Performance

Shares of NASDAQ:LOVE opened at $17.43 on Monday. The business has a fifty day moving average of $18.78 and a 200-day moving average of $19.72. The firm has a market cap of $253.61 million, a PE ratio of 24.90, a price-to-earnings-growth ratio of 0.56 and a beta of 2.20. The Lovesac Company has a twelve month low of $12.12 and a twelve month high of $39.49.

Lovesac (NASDAQ:LOVE - Get Free Report) last posted its quarterly earnings data on Thursday, June 12th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.08. Lovesac had a net margin of 1.99% and a return on equity of 6.70%. The firm had revenue of $138.37 million during the quarter, compared to analysts' expectations of $137.20 million. During the same quarter last year, the company posted ($0.83) EPS. The company's quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts anticipate that The Lovesac Company will post 0.39 EPS 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.

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