Pacer Advisors Inc. Makes New $2.39 Million Investment in The Lovesac Company (NASDAQ:LOVE)

Key Points

• Pacer Advisors Inc. invested approximately $2.39 million to acquire 131,457 shares of The Lovesac Company (NASDAQ:LOVE), representing about 0.89% ownership in the company.
• Lovesac reported a 4.4% year-over-year revenue increase for the last quarter, totaling $138.37 million, with a narrower loss of ($0.73) earnings per share beating analysts' expectations.
• Several institutional investors, including Senvest Management and AWM Investment Company, have increased their stakes in Lovesac, indicating strong institutional interest, which now represents 91.32% of the stock ownership.

Pacer Advisors Inc. bought a new stake in shares of The Lovesac Company (NASDAQ:LOVE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 131,457 shares of the company's stock, valued at approximately $2,390,000. Pacer Advisors Inc. owned 0.89% of Lovesac as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Heck Capital Advisors LLC bought a new position in shares of Lovesac during the 4th quarter worth approximately $26,000. Cubist Systematic Strategies LLC bought a new position in shares of Lovesac during the 4th quarter worth approximately $49,000. MetLife Investment Management LLC lifted its position in shares of Lovesac by 18.3% during the 4th 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. GAMMA Investing LLC lifted its position in shares of Lovesac by 12,234.3% during the 1st quarter. GAMMA Investing LLC now owns 12,581 shares of the company's stock worth $229,000 after buying an additional 12,479 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Lovesac by 24.8% during the 4th 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. Institutional investors own 91.32% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LOVE shares. Roth Mkm raised their price target on Lovesac from $22.00 to $28.00 and gave the company a "buy" rating in a report on Friday, April 11th. DA Davidson dropped their price target on Lovesac from $35.00 to $24.00 and set a "buy" rating for the company in a report on Friday, April 11th. Wall Street Zen raised Lovesac from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Oppenheimer reaffirmed an "outperform" rating and set a $35.00 price target on shares of Lovesac in a report on Friday, April 11th. Finally, Canaccord Genuity Group lowered their target price on Lovesac from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.40.

Lovesac Stock Performance

LOVE traded down $0.58 on Friday, hitting $17.43. 326,121 shares of the company were exchanged, compared to its average volume of 425,743. 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 $253.59 million, a PE ratio of 24.90, a PEG ratio of 0.58 and a beta of 2.24. The stock's fifty day moving average is $18.80 and its 200-day moving average is $19.87.

Lovesac (NASDAQ:LOVE - Get Free Report) last released its earnings results on Thursday, June 12th. The company reported ($0.73) earnings per share (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 business had revenue of $138.37 million for the quarter, compared to analyst estimates of $137.20 million. During the same quarter in the prior year, the company posted ($0.83) earnings per share. Lovesac's revenue was up 4.4% on a year-over-year basis. As a group, equities research analysts expect that The Lovesac Company will post 0.39 EPS for the current fiscal year.

Insider Transactions at Lovesac

In related news, Director Walter Field Mclallen bought 1,950 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were acquired at an average price of $18.08 per share, for a total transaction of $35,256.00. Following the completion of the acquisition, the director owned 40,000 shares of the company's stock, valued at approximately $723,200. The trade was a 5.12% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 12.33% of the company's stock.

Lovesac Company 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.