Kanen Wealth Management LLC Takes $8.06 Million Position in The Lovesac Company $LOVE

Key Points

• Kanen Wealth Management acquired 545,963 Lovesac shares worth approximately $8.06 million, making the position 2.9% of its portfolio and representing a 3.69% stake in the company.
• Institutional ownership stands at 91.32%, with several other investors—including Senvest Management and Bastion Asset Management—also increasing their positions during the first quarter.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus and an average price target of $22.67 versus the stock’s recent price of $16.97. Lovesac beat quarterly revenue and EPS expectations, though revenue was essentially flat year over year.

Kanen Wealth Management LLC acquired a new stake in The Lovesac Company (NASDAQ:LOVE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 545,963 shares of the company's stock, valued at approximately $8,064,000. Lovesac comprises 2.9% of Kanen Wealth Management LLC's investment portfolio, making the stock its 10th largest holding. Kanen Wealth Management LLC owned 3.69% of Lovesac at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Empowered Funds LLC increased its position in Lovesac by 9.5% during the first quarter. Empowered Funds LLC now owns 83,794 shares of the company's stock worth $1,238,000 after buying an additional 7,247 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Lovesac by 331.1% in the first quarter. Quantinno Capital Management LP now owns 50,406 shares of the company's stock worth $744,000 after buying an additional 38,713 shares during the last quarter. Senvest Management LLC lifted its position in shares of Lovesac by 36.7% in the first quarter. Senvest Management LLC now owns 1,025,393 shares of the company's stock worth $15,145,000 after buying an additional 275,252 shares during the last quarter. Bastion Asset Management Inc. boosted its stake in shares of Lovesac by 193.6% during the 1st quarter. Bastion Asset Management Inc. now owns 356,097 shares of the company's stock worth $5,290,000 after acquiring an additional 234,812 shares in the last quarter. Finally, BCGM Wealth Management LLC boosted its stake in shares of Lovesac by 4.1% during the 1st quarter. BCGM Wealth Management LLC now owns 251,440 shares of the company's stock worth $3,714,000 after acquiring an additional 9,908 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wall Street Zen raised Lovesac from a "sell" rating to a "hold" rating in a research note on Saturday, April 4th. DA Davidson upped their target price on Lovesac from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, June 12th. Weiss Ratings reiterated a "sell (d)" rating on shares of Lovesac in a report on Wednesday, June 24th. Finally, Canaccord Genuity Group set a $22.00 price target on shares of Lovesac in a research report on Thursday, June 11th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $22.67.

Lovesac Price Performance

Lovesac stock opened at $16.97 on Wednesday. The Lovesac Company has a fifty-two week low of $10.33 and a fifty-two week high of $20.88. The firm has a fifty day moving average price of $16.37 and a two-hundred day moving average price of $14.92. The firm has a market cap of $248.44 million, a price-to-earnings ratio of 65.27, a P/E/G ratio of 0.96 and a beta of 2.00.

Lovesac (NASDAQ:LOVE - Get Free Report) last issued its quarterly earnings results on Thursday, June 11th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.27. The company had revenue of $138.20 million for the quarter, compared to the consensus estimate of $136.66 million. Lovesac had a return on equity of 1.88% and a net margin of 0.55%.The firm's revenue was down .1% compared to the same quarter last year. During the same period last year, the business posted ($0.73) earnings per share. Lovesac has set its Q2 2027 guidance at 0.200-0.480 EPS and its FY 2027 guidance at 0.340-0.810 EPS. As a group, sell-side analysts expect that The Lovesac Company will post 0.5 earnings per share for the current year.

Insider Transactions at Lovesac

In other Lovesac news, Director Andrew R. Heyer bought 30,000 shares of the stock in a transaction on Thursday, June 18th. The shares were purchased at an average price of $14.68 per share, with a total value of $440,400.00. Following the acquisition, the director directly owned 293,259 shares of the company's stock, valued at $4,305,042.12. This represents a 11.40% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders purchased 33,550 shares of company stock valued at $490,146. Company insiders own 7.79% of the company's stock.

About Lovesac

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.

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