Man Group plc Purchases Shares of 13,831 The Lovesac Company (NASDAQ:LOVE)

Man Group plc bought a new position in shares of The Lovesac Company (NASDAQ:LOVE - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,831 shares of the company's stock, valued at approximately $327,000. Man Group plc owned 0.09% of Lovesac at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in shares of Lovesac during the fourth quarter worth about $26,000. Cubist Systematic Strategies LLC purchased a new stake in Lovesac in the fourth quarter worth about $49,000. AlphaQuest LLC purchased a new stake in Lovesac in the fourth quarter worth about $70,000. MetLife Investment Management LLC lifted its holdings in Lovesac by 18.3% in the fourth quarter. MetLife Investment Management LLC now owns 9,233 shares of the company's stock worth $218,000 after buying an additional 1,425 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Lovesac by 24.8% in the fourth quarter. Wells Fargo & Company MN now owns 9,823 shares of the company's stock worth $232,000 after buying an additional 1,950 shares during the period. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Lovesac Stock Down 0.8%

Shares of Lovesac stock traded down $0.15 on Friday, reaching $19.26. The company's stock had a trading volume of 350,406 shares, compared to its average volume of 379,678. The company has a market capitalization of $285.91 million, a price-to-earnings ratio of 56.65, a P/E/G ratio of 0.65 and a beta of 2.48. The firm's fifty day simple moving average is $18.88 and its two-hundred day simple moving average is $23.27. The Lovesac Company has a 52 week low of $12.12 and a 52 week high of $39.49.

Lovesac (NASDAQ:LOVE - Get Free Report) last issued its quarterly earnings data on Thursday, April 10th. The company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.80 by $0.33. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The company had revenue of $241.50 million during the quarter, compared to analyst estimates of $230.33 million. During the same quarter in the previous year, the company posted $1.87 earnings per share. Lovesac's revenue was down 3.6% compared to the same quarter last year. As a group, research analysts predict that The Lovesac Company will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

LOVE has been the subject of several recent research reports. Oppenheimer reiterated an "outperform" rating and set a $35.00 target price on shares of Lovesac in a report on Friday, April 11th. Canaccord Genuity Group lowered their target price on shares of Lovesac from $45.00 to $30.00 and set a "buy" rating for the company in a report on Friday, April 11th. Roth Mkm lifted their target price on shares of Lovesac from $22.00 to $28.00 and gave the company a "buy" rating in a report on Friday, April 11th. Finally, DA Davidson lowered their target price on shares of Lovesac from $35.00 to $24.00 and set a "buy" rating for the company in a report on Friday, April 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $31.67.

Lovesac 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.