Harbour Capital Advisors LLC Buys New Position in The Lovesac Company (NASDAQ:LOVE)

Harbour Capital Advisors LLC purchased a new position in shares of The Lovesac Company (NASDAQ:LOVE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,975 shares of the company's stock, valued at approximately $327,000. Harbour Capital Advisors LLC owned approximately 0.12% of Lovesac at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SummerHaven Investment Management LLC grew its holdings in Lovesac by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 33,949 shares of the company's stock worth $617,000 after acquiring an additional 562 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of 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 purchasing an additional 280,522 shares during the last quarter. GAMMA Investing LLC grew its stake in Lovesac by 12,234.3% in the first quarter. GAMMA Investing LLC now owns 12,581 shares of the company's stock worth $229,000 after purchasing an additional 12,479 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Lovesac in the fourth quarter worth about $26,000. Finally, AWM Investment Company Inc. increased its holdings in Lovesac by 33.2% in the fourth quarter. AWM Investment Company Inc. now owns 681,741 shares of the company's stock valued at $16,130,000 after buying an additional 170,045 shares during the last quarter. Institutional investors own 91.32% of the company's stock.

Lovesac Stock Performance

Shares of Lovesac stock traded down $0.09 on Thursday, reaching $18.39. 227,403 shares of the company were exchanged, compared to its average volume of 386,324. The company's 50-day moving average is $19.52 and its two-hundred day moving average is $21.25. The firm has a market cap of $267.57 million, a price-to-earnings ratio of 26.27, a P/E/G ratio of 0.60 and a beta of 2.30. The Lovesac Company has a 1-year low of $12.12 and a 1-year high of $39.49.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on LOVE. DA Davidson reduced their target price on Lovesac from $35.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Oppenheimer restated an "outperform" rating and set a $35.00 price objective on shares of Lovesac in a research note on Friday, April 11th. Roth Mkm lifted their price objective on shares of Lovesac from $22.00 to $28.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, Canaccord Genuity Group dropped their target price on shares of Lovesac from $45.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $30.40.

Insider Buying and Selling

In other Lovesac news, Director Walter Field Mclallen acquired 1,950 shares of Lovesac stock in a transaction dated Friday, June 20th. The stock was acquired at an average cost of $18.08 per share, for a total transaction of $35,256.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at approximately $723,200. This represents a 5.12% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 12.33% of the company's stock.

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.